I don’t assist customs duties above 10%

Billionaire investor Stanley Druckenmiller has turn into a uncommon factor publish He repeated his opposition to tariffs above 10% on social media platform X on Sunday.

The founders of Duquesne Household Workplace have been constant in opposition to the US, which imposes tariffs above the ten% threshold. In January, he informed CNBC: [from tariffs] It’s exaggerated in comparison with rewards, and excessive rewards are like they’re much less of the 2 evils. ”

Relating to customs duties, Druckenmiller additionally stated he views it as “it is merely a gross sales tax, and foreigners pay a portion of it.”

His newest publish on X – considered one of solely a handful of posts he has made to the platform is off of President Donald Trump’s sweeping tariff plans.

In response to a video on X in a January interview with Druckenmiller, the veteran investor wrote:

Inventory costs have fallen sharply after Trump’s tariff announcement, and the market has skilled losses that haven’t been seen for the reason that Covid-19 pandemic.

Trump’s allies defended air tariffs on Sunday, sought to attenuate long-term financial impacts. Kevin Hassett, director of the White Home Nationwide Financial Council, stated he would not consider tariffs will “have a significant affect on U.S. shoppers.”

The baseline 10% tariff in virtually each nation got here into impact on Saturday morning. “Dangling powerful, that is not straightforward, however the finish outcome can be historic,” Trump stated. I wrote it True socially, as tariffs start to be enforced.

Druckenmiller threw him Monetary assist Comprises the again Co-hosted fundraising actionswithin the case of Republican main candidate Nicky Haley.

Druckenmiller forward of the November normal election I stated it publicly He was not planning to vote for Trump or former vice chairman Kamala Harris.

clock: Druckenmiller: Customs duties are merely consumption taxes paid by foreigners on a portion of it.