Billionaire investor Bill Ackman, known for his support of crypto, is pondering the likelihood that US President Donald Trump might delay the enforcement of his contentious proposed tariffs on April 7.
“One can only presume that President Donald Trump’s phone has been inundated with calls. The practical situation is that there is inadequate time for him to finalize agreements before the tariffs are intended to be implemented,” Ackman, founder of Pershing Square Capital Management, stated in a post on X dated April 5.
Trump might delay tariffs to negotiate more deals, Ackman asserts
“Therefore, I would not be astonished to awaken on Monday to an announcement from the President that he is postponing the execution of the tariffs to provide him time to negotiate,” Ackman continued.
On April 2, Trump authorized an executive directive establishing a 10% foundational tariff on all imports from every nation, which commenced on April 5. Stricter reciprocal tariffs on trade partners with which the US has the largest trade deficits are set to take effect on April 9.
Ackman — who famously remarked “crypto is here to stay” following the collapse of FTX in November 2022 — mentioned that Trump garnered global attention and that of US trading partners, supporting the tariffs as essential after labeling the previous system as an “unjust tariff regime” that harmed US workers and the economy “over many years.”
In the aftermath of Trump’s announcement on April 2, the US stock market lost more value during the trading session on April 4 than the total worth of the current crypto market. This fact, showing that crypto outperformed the US stock market, drew attention from both advocates and skeptics within the crypto sector.
Source: Cameron Winklevoss
Notable figures in the crypto arena, including BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss, have also recently expressed their endorsement of Trump’s tariffs.
Related: Trump tariffs pressure already strained Bitcoin miners — Braiins executive
Ackman indicated that a delay would be a reasonable approach by Trump — not only to provide time for negotiating potential agreements but also to afford companies, regardless of size, “adequate time to get ready for modifications.” He elaborated:
“The peril of not doing so is that the substantial surge in uncertainty could propel the economy into a recession, potentially a severe one.”
Ackman noted that April 7 would be “one of the more fascinating days” in the history of the US economy.
Magazine: New ‘MemeStrategy’ Bitcoin enterprise by 9GAG, imprisoned CEO’s $3.5M bonus: Asia Express
