Politics
Billionaire Bill Ackman Makes Compelling Case for President Trump’s Tariff Strategy: “I Wouldn’t Bet Against Him”
Hedge fund billionaire Bill Ackman has built a successful career from a deep understanding of the economy and business landscapes.
While some wring their hands over President Trump’s tariff strategy and panic over short-term market reactions, Ackman shared a comprehensive argument on X on why no one should bet against Trump.
Ackman shared, “@VDHanson makes a compelling case for the @realDonaldTrump tariff strategy, but gets one issue incorrect. He describes the Trump tariffs as reciprocal and proportional to those other nations have assessed on us.”
“In actuality, the Trump tariffs were set at levels substantially above, and in many cases, at a multiple of the counterparty country’s tariff levels.”
“Initially, the market responded favorably, up more than one percent when Trump referred to ‘reciprocal tariffs’ in his Rose Garden speech. It was only when he put up a chart showing the actual tariffs that the markets plunged.”
“We can divine from this response that market participants are supportive of the administration using tariffs as a tool to lower the asymmetrical tariffs of our trading partners, but are highly concerned with tariff levels set well in excess of a corresponding country’s levels.”
“So why did Trump take this approach?”
“The answer goes back to ‘The Art of the Deal.’ Trump’s negotiating style is to ask for the moon and then settle somewhere in between. It has worked well for him in the past so he is using the same approach here.”
“The market’s response is due to the fear that if this strategy fails and the tariffs stay in place, they will plunge our economy into a recession. And we don’t need to wait for failure as it doesn’t take long for a high degree of uncertainty to cause economic activity to slow.”
“Press reports today have said that all deals are now on hold. This is not surprising. Capitalism is a confidence game. Uncertainty is the enemy of business confidence.”
“The good news is that a number of countries have already approached the negotiating table to make tariff deals, which suggests that Trump’s strategy is beginning to work. Whether this is enough to settle markets next week is unknowable, but we will find out soon.”
“The idea that Wall Street and investors are opposed to the President’s efforts to bring back our industrial base by leveling the tariff playing field is false. Our trading partners have taken advantage of us for decades after tariffs were no longer needed to help them rebuild their economies after WWII.”
“The market is simply responding to Trump’s shock and awe negotiating strategy and factoring in some probability that it will fail or otherwise lead to an extended period of uncertainty that will sink us into a recession.”
“The market decline has been compounded by losses incurred at so-called pod shops and other highly levered market participants that have been forced to liquidate positions as markets have declined.”
“Stocks of even the best companies are now trading at the cheapest valuations we have seen since Covid. If the President makes continued progress on tariff deals, uncertainty will be reduced, and the market will begin to recover.”
“As more countries come to the table, those that have held out or have reciprocated with higher tariffs will have growing concerns about being left behind. This should cause more countries to negotiate deals until we reach a tipping point where it is clear that the strategy will succeed. When this occurs, stocks will soar.”
“Trump’s strategy is not without risk, but I wouldn’t bet against him. The more that markets support the President and his strategy, the higher the probability that he succeeds, so a stable hand on the trading wheel is a patriotic one.”
“An important characteristic of a great leader is a willingness to change course when the facts change or when the initial strategy is not working. We have seen Trump do this before. Two days in, however, it is much too early to form a view about his tariff strategy.”
“Trump cares enormously about our economy and the stock market as a measure of his performance. If the current strategy works, he will continue to execute on it. If it needs to be tweaked or changed, I expect he will make the necessary changes. Based on the early read, his strategy appears to be working.”
“Let’s help him succeed. It’s the least we can do.”
.@VDHanson makes a compelling case for the @realDonaldTrump tariff strategy, but gets one issue incorrect. He describes the Trump tariffs as reciprocal and proportional to those other nations have assessed on us.
In actuality, the Trump tariffs were set at levels substantially… https://t.co/WdKggDlVbD
— Bill Ackman (@BillAckman) April 5, 2025
The post Billionaire Bill Ackman Makes Compelling Case for President Trump’s Tariff Strategy: “I Wouldn’t Bet Against Him” appeared first on The Gateway Pundit.
Politics
ALIVE: Pope Francis Makes Surprise First Public Appearance During Sunday Mass in St. Peter’s Square After Long Hospital Stay
The faithful assembled in Vatican’s St. Peter’s Square for the Sunday Mass celebrating the Jubilee were pleasantly surprised by the unannounced appearance by an ailing Pope Francis, in his first public appearance since being discharged from the hospital two weeks ago.
Still weak after his grueling five-week treatment for double pneumonia, Francis entered the Square in a wheelchair to greet the cheering crowd.
Francis hadn’t been seen in public since a short greeting before leaving Rome’s Gemelli hospital on March 23, following the most serious health crisis of his 12-year papacy.
Reuters reported:
“The pope, in a previously unannounced move, came out to the square shortly before noon at the end of the celebration of a Mass for the Catholic Church’s Jubilee year.
Coming in front of the main altar for the service in bright sunshine, Francis waved to the crowds, before speaking briefly.
‘Happy Sunday to everyone’, the pope said, speaking in a rail voice while receiving oxygen via a small hose under his nose. ‘Thank you so much’.”
To the joy of everyone in St. Peter’s Square, this morning Pope Francis made a surprise appearance for the Jubilee of the Sick and Healthcare Workers. Visibly frail, connected to an oxygen tank, with his voice still very weak, he wished everyone a good Sunday. pic.twitter.com/ZlRo00Bp2L
— Catholic Sat (@CatholicSat) April 6, 2025
Today’s mass may have held a particular meaning for Francis as it was a special Jubilee celebration in honor of the sick and the healthcare workers.
“In a written message released by the Vatican shortly after noon, Francis said he had felt God’s closeness during his time in hospital.
‘I ask the Lord that this touch of his love might reach all those who suffer and encourage those who are taking care of them’, said the text.”
I have much in common with you at this time of my life, dear brothers and sisters who are sick: the experience of illness, of weakness, of having to depend on others for so many things, and of needing their support. #Jubilee
— Pope Francis (@Pontifex) April 6, 2025
The hospital room and the sickbed can also be places where we hear the voice of the Lord speak to us: “Behold, I am about to do a new thing; now it springs forth, do you not perceive it?” (Is 43:19). In this way, we renew and strengthen our faith. #Jubilee
— Pope Francis (@Pontifex) April 6, 2025
With Easter Sunday just two weeks away, it’s unclear how (or if) the pope will participate in public ceremonies, as doctors have prescribed Francis with a two-month period of rest at his Vatican residence.
Read more:
Pope Francis’ Health Situation Was at One Point So Dire That Doctors Contemplated Stopping the Treatment and ‘Letting Him Die in Peace’
The post ALIVE: Pope Francis Makes Surprise First Public Appearance During Sunday Mass in St. Peter’s Square After Long Hospital Stay appeared first on The Gateway Pundit.
Photo credit: depositphotos.com
On Friday, the Internal Revenue Service (IRS) began the process of cutting its workforce by at least 25%.
In addition to the layoffs, the agency will also eliminate its Office of Civil Rights and Compliance.
In an email sent to employees on Friday, the agency noted that the reductions will “be implemented in phases” and employees will be offered early retirement incentives beginning next week.
Fox News reports:
“This action is being taken to increase the efficiency and effectiveness of the IRS in accordance with agency priorities and the Workforce Optimization Initiative outlined in a recent Executive Order,” the letter states, referring to President Donald Trump‘s executive order directing the Department of Government Efficiency to get rid of wasteful spending.
The agency said it was approved to offer Voluntary Early Retirement Authority (VERA) and Voluntary Separation Incentive Payment (VSIP). Information about those programs will be shared with employees at a later date, the message said.
“This calendar year to date, approximately 5% of this office left through the Deferred Resignation Program and attrition,” the message said. “An additional 75% of the office will be reduced through a RIF (Reduction in Force).”
In March, President Trump announced the firing of 6,000 IRS workers, the majority of whom were hired by the Biden Regime.
The cuts are in sharp contrast to the Biden administration’s efforts to grow the already bloated agency by 88,000 new agents to target the middle class.
The Gateway Pundit reported that during the Biden regime, last month the IRS threatened to go after individuals or organizations that questioned Joe Biden or the federal government’s “ability to govern.”
The post IRS Prepares to Cut Workforce by 25% appeared first on The Gateway Pundit.
Politics
Trump Was Right: More than 50 Countries Have Already Contacted White House to Negotiate Trade and Tariffs
Director of the National Economic Council, Kevin Hassett, says 50 countries have already reached out to the Trump administration to renegotiate their trade deals with the US.
On Sunday morning, Kevin Hassett, the Director of the National Economic Council, joined This Week on ABC to discuss Trump’s tariffs.
Hassett told This Week that over 50 countries have reached out to the Trump White renegotiate their trade agreements with the US thanks to President Trump’s tough stand.
This shows Trump’s tariff’s plan in already working.
Kevin Hassett: I got a report from the USDR last night that more than 50 countries have reached out to the President to begin a negotiation. But they’re doing that because they understand that they bear a lot of the tariff. And so, I don’t think that you’re going to see a big effect on the consumer in the US, because I do think that the reason why we have a persistent long-run trade deficit is these people have very inelastic supply.
They’ve been dumping goods into the country in order to create jobs, say, in China.
Via This Week on ABC News.
JUST IN: Over 50 countries have reached out to President Trump to negotiate new trade deals, US National Economic Council Director says. pic.twitter.com/cZ0MC3Fmiu
— Watcher.Guru (@WatcherGuru) April 6, 2025
On Wednesday, President Trump signed an executive order imposing reciprocal tariffs on dozens of countries.
Gateway Pundit contributor Antonio Graceffo reported on President Trump’s courageous and common-sense move. Democrats have criticized President Trump’s tariffs, arguing that they lead to price increases that disadvantage American workers. While tariffs can contribute to higher prices, they also benefit American workers.
Firstly, revenue generated from tariffs contributes to the government’s operating fund, potentially offsetting expenses that would otherwise be covered by income taxes. This additional revenue has opened discussions about tax relief measures, such as removing income tax from overtime pay or tips.
Tariffs can reduce the need for subsidies by leveling the playing field for American producers competing against heavily subsidized foreign imports. A good example is agriculture.
In less than one week, more than 50 countries have reached out to the White House to begin trade talks, Kevin Hassett, a top economic adviser to U.S. President Donald Trump said on Sunday.
TGP’s Ben Kew on Saturday listed a number of countries already reaching out to the Trump Administration.
Here is an initial list of countries and the tariffs Trump has imposed on their products entering the US.
| Country | Tariffs Charged to the U.S.A. | U.S.A. Discounted Reciprocal Tariffs |
|---|---|---|
| Argentina | 10% | 10% |
| Australia | 10% | 10% |
| Bangladesh | 74% | 37% |
| Botswana | 74% | 37% |
| Brazil | 10% | 10% |
| Cambodia | 97% | 49% |
| Chile | 10% | 10% |
| China | 67% | 34% |
| Colombia | 10% | 10% |
| Costa Rica | 17% | 10% |
| Côte d’Ivoire | 41% | 21% |
| Dominican Republic | 10% | 10% |
| Ecuador | 12% | 10% |
| Egypt | 10% | 10% |
| El Salvador | 10% | 10% |
| European Union | 39% | 20% |
| Guatemala | 10% | 10% |
| Honduras | 10% | 10% |
| India | 52% | 26% |
| Indonesia | 64% | 32% |
| Israel | 33% | 17% |
| Japan | 46% | 24% |
| Jordan | 40% | 20% |
| Kazakhstan | 54% | 27% |
| Laos | 95% | 48% |
| Madagascar | 93% | 47% |
| Malaysia | 47% | 24% |
| Morocco | 10% | 10% |
| Myanmar (Burma) | 88% | 44% |
| New Zealand | 20% | 10% |
| Nicaragua | 36% | 18% |
| Norway | 30% | 15% |
| Pakistan | 58% | 29% |
| Peru | 10% | 10% |
| Philippines | 34% | 17% |
| Saudi Arabia | 10% | 10% |
| Serbia | 74% | 37% |
| Singapore | 10% | 10% |
| South Africa | 60% | 30% |
| South Korea | 50% | 25% |
| Sri Lanka | 88% | 44% |
| Switzerland | 61% | 31% |
| Taiwan | 64% | 32% |
| Thailand | 72% | 36% |
| Trinidad and Tobago | 12% | 10% |
| Tunisia | 55% | 28% |
| Turkey | 10% | 10% |
| United Arab Emirates | 10% | 10% |
| United Kingdom | 10% | 10% |
| Vietnam | 90% | 46% |
The post Trump Was Right: More than 50 Countries Have Already Contacted White House to Negotiate Trade and Tariffs appeared first on The Gateway Pundit.
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