Source: Cointelegraph Original: "{title}"
Billionaire investor Bill Ackman, who is friendly to cryptocurrencies, is considering the possibility that U.S. President Donald Trump may suspend the implementation of his controversial proposed tariffs on April 7.
“It’s conceivable that President Donald Trump’s phone is ringing off the hook. The reality is that he doesn’t have enough time to strike a deal before the tariffs go into effect,” Ackman, founder of Pershing Square Capital Management, stated in an X post on April 5.
“Therefore, I wouldn’t be surprised if I wake up Monday morning to hear the president announce a delay in the implementation of the tariffs to buy time for a deal,” Ackman added.
On April 2, Trump signed an executive order establishing a 10% baseline tariff on all imports from all countries, which took effect on April 5. A stricter reciprocal tariff plan for trade partners with the largest trade deficits with the U.S. is set to take effect on April 9.
Ackman—who famously stated “cryptocurrency will continue to exist” after the FTX collapse in November 2022—said Trump has drawn attention from the world and U.S. trading partners, and that supporting tariffs is necessary because he believes the “unfair tariff system” has harmed American workers and the economy for “decades.”
Following Trump’s announcement on April 2, the U.S. stock market saw a decline on April 4 that exceeded the total market capitalization of the entire cryptocurrency market. The fact that cryptocurrencies outperformed the U.S. stock market has caught the attention of both supporters and skeptics in the cryptocurrency industry.
Source: Cameron Winklevoss
Notable figures in the cryptocurrency industry, such as BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss, have also recently expressed support for Trump’s tariffs. Ackman stated that suspending the tariff measures would be a reasonable move for Trump—not only to buy time for a possible deal but also to give various companies time to prepare for the changes. He added:
“If this doesn’t happen, the enormous uncertainty could push the economy into recession, or even a severe recession.”
Ackman called April 7 “one of the most interesting days in U.S. economic history.”
Related: Trump’s tariff “prescription” hits global stock markets hard, cryptocurrency plummets
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