The billionaire hedge competitor investor Bill Ackman suggested that small businesses will be paralyzed by President Trump radical prices If a break on global import taxes is not implemented by the administration.
“If the president does not pass the effect of prices soon, many small businesses will go bankrupt,” said Ackman Written Wednesday On the social platform X. “Average companies will be following.”
“A 90-day break will allow @realdonaldtrump to achieve its objectives without destroying small businesses in the short term,” he added.
His comments occur a week after Trump imposed a 10% basic price On all imports – including traditionally exempt products such as tea or coffee – as well as higher additional prices on a handful of countries. The latest tasks entered into force on Wednesday.
Ackman said he had received emails from several startups in which he has invested concerns about their ability to respect the margin in the middle of the market breaker.
“Unlike many industries, there is no” relocation “solution for coffee. The United States simply does not cultivate coffee on a commercial scale, and the production of domestic tea is practically non-existent,” he explained in his online article. “There is no viable national alternative in the short or long-term.”
The billionaire, who approved Trump’s presidential candidacy in 2024, gave a striking warning Sunday on the risks of the president’s commercial agenda, arguing that he could collapse and hurt the voters.
He doubled on his remarks on Tuesday, adding that he supports the Use of prices To lead stronger trade relations with international partners, but Trump suggested that Trump should consider a brief intermission before imposing higher rates.
A number of small businesses, 42%, have already declared an increase in costs as a result of prices, according to a survey of the National Association of Small Businesses. Additional 30% said they had delayed in shipping and accomplishment, According to Forbes.
Despite Fluctation of stock pricesThe anxiety of world leaders and the events of owners of American companies, the White House insisted for the administration will not step back on prices.
“We have the opportunity to change the fabric of our country,” Trump told journalists in the oval office on Monday. “We have the opportunity to reset the table on trade.”
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