Bill Ackman asked Donald Trump to suspend the pricing plans for his administration for a while.
Wednesday afternoon, this is what the president did.
“Thank you on behalf of all the Americans,” said Ackman in an article on X after the president’s social account was announced.
President Trump amazed market observers with a social media position around 1 p.m. on Wednesday, authorizing a 90-day break on his reciprocal pricing plans while keeping the 10% tasks in place on most of the world which entered into force last weekend.
The president also announced that he would unilaterally increase the rate on China 125% due to “the disrespect” that China has shown. The temporary stay of massive rates was enough to send the S&P 500 index of more than 8% to the intraday trading.
During a press conference with journalists, the American Treasury Secretary, Scott Bessent, said that Trump’s decision was not influenced by the main confidence on the markets after the initial unveiling of his radical pricing policy a week ago, saying that “it was his strategy from the start.”
The 90-day break allows the United States to create a “tailor-made” solution with more than 75 countries that have engaged with the United States for commercial negotiations. “It was brilliantly executed by Donald Trump. Manuel, art of the agreement,” said Ackman in a later article.
“We now understand who our favorite business partners are and what are the problems,” said Ackman in a later post. “This is the perfect configuration for commercial negotiations over the next 90 days.”
A billionaire designer fund manager who directs Pershing Square Holdings (PSHZF) and supported Trump during the 2024 campaign, Ackman launched a public campaign to slow down the deployment of President Trump’s prices from Sunday.
In a series of messages on X, he described the launch of April 9 as “reciprocal prices” of “error”, asked for a 90-day break and warned “an self-induced economic winter”.
Several other billionaires this week have offered warnings such as the extent of what Trump has offered, with increased chances of recession. The CEO of JPMorgan Chase, Jamie Dimon, said on Wednesday morning that the chances of an American recession were a “probable result”, warning that a negative reaction of the market for commercial policies “could worsen if we do not progress.”
