Bill Ackman, the hedge fund Titan and the longtime supporter of Donald Trump, called for a 90-day stop on the climbing of American prices which should take effect on April 9, while the markets continue to feel the effects of the commercial policy of the United States recently implemented.
Without the stop, warned Ackman, the country could go to an “economic nuclear winter” which would crush business confidence, stop investment and cause mass layoffs.
“This is not why we voted,” said Ackman wrote On X, formerly Twitter. “Business is a game of trust. The president loses the confidence of business leaders around the world. ”
Ackman’s advocacy follows President Trump’s announcement that the United States impose A price of 25% on all cars manufactured abroad, a “minimum basic price” of 10% on imports and new “reciprocal rates” targeting countries with samples from American products.
“Our country and its taxpayers have been scammed for over 50 years,” said Trump of the Garden Rose from the White House last week. “But it will not happen anymore.”
The administration’s formula, a trade deficit divided by imports, was quickly reported by economists as too simple and likely to turn around.
“By placing massive and disproportionate prices on our friends and enemies … We are in the process of destroying confidence in our country as a trading partner,” said Ackman in his post.
This eroding confidence is now played in the markets, especially the crypto.
Bitcoin (BTC) fell to $ 77,300 on Monday, down 7.6% compared to 24 hours, erasing nearly $ 70 billion in market capitalization. Ethereum (ETH) slipped to $ 1,555, down 14% in one day, according to Coingecko data.
Gout follows a clear but in short Bitcoin Rally Last Thursday, when the room increased to $ 87,800 during Trump’s pricing announcement before retiring suddenly.
“The market is easily manipulated in its current state,” said Tracy Jin, COO of Mexc Exchange, said Decipher. “This brings the threat of new disappointments … and it will question the status of bitcoin as a refuge, which can lead to an even clearer output of the ETF.”
According to Jin, a negative scenario appears more likely with the fall of Bitcoin to the “range of $ 52,000 to $ 56,000” by the summer. Ethereum, faced with structural challenges beyond the prices, can get worse, she said.
Edited by Sebastian Sinclair
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