{"id":3404,"date":"2025-04-08T23:26:23","date_gmt":"2025-04-08T23:26:23","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/08\/what-8-wall-street-leaders-are-saying-about-trumps-tariffs\/"},"modified":"2025-04-08T23:26:26","modified_gmt":"2025-04-08T23:26:26","slug":"what-8-wall-street-leaders-are-saying-about-trumps-tariffs","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/08\/what-8-wall-street-leaders-are-saying-about-trumps-tariffs\/","title":{"rendered":"What 8 Wall Street Leaders Are Saying About Trump\u2019s Tariffs"},"content":{"rendered":"
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President Trump and BlackRock CEO Larry Fink pictured at the White House on Feb. 3, 2017. Photo by Chip Somodevilla\/Getty Images<\/span><\/figcaption><\/figure>\n

Wall Street titans had been oddly silent about Trump tariffs\u2014until they became real. Amid market turmoil brought on by the President\u2019s \u201cLiberation Day\u201d tariffs, a growing trickle of prominent bank CEOs and investors are raising the alarm on how these levies could cause irreparable harm to the global economy. Even established Trump supporters, such as Citadel<\/a> CEO Ken Griffin<\/a> and Pershing Square<\/a> founder Bill Ackman<\/a>, are vocalizing concerns about the potential fallout.<\/p>\n

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Here\u2019s a look at what Wall Street\u2019s most prominent leaders are saying:<\/p>\n

Ken Griffin: \u201cA huge policy mistake.\u201d<\/h3>\n

Ken Griffin, a major Republican donor, called Trump\u2019s tariffs a \u201chuge policy mistake<\/a>\u201d while speaking at the University of Miami event yesterday (April 7). Griffin estimated that it could take 20 years for the tariffs to actually bring manufacturing jobs back to the U.S. \u201cIt\u2019s not 20 weeks. It\u2019s not two years. It\u2019s decades,\u201d he stressed. But before then, the levies will raise the cost of groceries, appliances and vehicles for middle- and lower-class families.<\/p>\n

The speech mark a departure from Griffin\u2019s previous comments on Trump\u2019s tariff policy<\/a>, which he claimed wasn\u2019t a particularly important business issue. \u201cI am really afraid of us abdicating our role of leadership for the free world,\u201d said Griffin yesterday. \u201cThat\u2019s the path we\u2019re on.\u201d<\/p>\n

JPMorgan Chase CEO Jamie Dimon: \u201cDisastrous in the long term.\u201d<\/h3>\n

Economic fragmentation caused by the tariffs could be \u201cdisastrous in the long run<\/a>,\u201d said JPMorgan Chase (JPM)<\/a> CEO Jamie Dimon<\/a> in his latest annual letter to shareholders. He warned that the levies will increase inflation and potentially lead to a recession, and he urged for negotiations to take place sooner rather than later. \u201cAmerica First is fine, as long as it doesn\u2019t end up being America alone,\u201d Dimon wrote.<\/p>\n

Dimon reportedly supported<\/a> Kamala Harris<\/a> during the 2024 Presidential election, the banking CEO has previously defended Trump\u2019s tariff policy. In January, he called tariffs as an effective negotiation tactic and advised people to \u201cget over it.<\/a>\u201d<\/p>\n

Bill Ackman: \u201cAn economic war against the whole world.\u201d<\/h3>\n

Bill Ackman, head of the hedge fund Pershing Square and one of Wall Street\u2019s loudest supporters of Trump, has changed his tune. \u201cWe are heading for a self-induced, economic nuclear winter<\/a>,\u201d said Ackman in a series of X posts over the weekend. He described the levies as akin to \u201claunching a global economic war against the whole world at once.\u201d<\/p>\n

The hedge fund manager today (April 8) said that some of his comments on tariffs have been \u201cmisinterpreted\u201d<\/a> and noted that he still supports tariffs as a tool for negotiation. But he reiterated his call for a pause of up to 90 days before the tariffs come into effect to allow for negotiation.<\/p>\n

BlackRock CEO Larry Fink: We are already in a recession.<\/h3>\n

According to Larry Fink<\/a>, the CEO of BlackRock (BLK)<\/a>, an economic downturn in the U.S. is already taking place and will only continue to escalate. \u201cThe economy is weakening as we speak<\/a>,\u201d said Fink yesterday while speaking at the Economic Club of New York. \u201cMost CEOs I talk to would say we are probably in a recession right now,\u201d he added.<\/p>\n

Fink alluded to America\u2019s economic uncertainty in his annual shareholder letter last week. \u201cI hear it from nearly every client, nearly every leader<\/a>\u2014nearly every person\u2014I talk to: They\u2019re more anxious about the economy than any time in recent memory,\u201d he wrote.<\/p>\n

Oaktree Capital Management co-chairman Howard Marks: The world is \u201ccompletely in flux.\u201d<\/h3>\n

Much of the economic benefits reaped over the past eight decades can be attributed to the growth of global trade, said Howard Marks<\/a> during a Bloomberg TV interview on April 4. Now, the state of the world \u201cis completely in flux,<\/a>\u201d he said.<\/p>\n

\u201cWe\u2019ve gone from free trade and world trade and globalization to this system, which implies significant restrictions on trade in every direction and a step toward isolation for the United States,\u201d he added.<\/p>\n

Third Point Capital CEO Daniel Loeb: \u201cA test of the administration\u2019s judgement versus ideology.\u201d<\/h3>\n

Last October, Daniel Loeb<\/a> praised Trump\u2019s economic policy<\/a> and said his tariffs would have a positive impact on the market. He isn\u2019t so sure now. On April 5, he reposted an article on X from the conservative think-tank American Enterprise Institute that criticizes the formula the administration used to calculate the tariffs.<\/p>\n

\u201cThoughtful piece on potential conceptual as well as practical errors <\/a>that went into the announced tariff policy,\u201d said Loeb of the report. \u201cIt will be a test of the administration\u2019s judgement versus ideology how they resolve this over the weekend or coming days.\u201d<\/p>\n

Bridgewater founder Ray Dalio: \u201cThis is going to create great sand in the gears.\u201d<\/h3>\n

While hedge fund billionaire Ray Dalio<\/a> agrees that the U.S. has a problem to fix when it comes to domestic manufacturing, he doesn\u2019t believe tariffs are the answer. \u201cI agree with the problem. I am very concerned about the solution,<\/a> the practicality of the solution,\u201d he told CNBC in an interview published today.<\/p>\n

The levies will see company costs rise and their revenue plunge, said the Bridgewater Associates<\/a> founder. \u201cThis is going to create great sand in the gears of production worldwide,\u201d he added.<\/p>\n

Duquense Capital founder Stanley Druckenmiller<\/h3>\n

Stanley Druckenmiller<\/a>, a longtime Republican, is turning against the levies. \u201cI do not support tariffs exceeding 10 percent<\/a>,\u201d said the billionaire investor in an X post on April 6. Druckenmiller has close ties to the Trump administration, having acted as the boss of Treasury Secretary Scott Bessent<\/a> when the two worked at George Soros\u2019 hedge fund.<\/p>\n

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