Following "Wall Street superfan" Bill Ackman's defection, another heavyweight has "changed tune," clearly opposing the U.S. raising tariffs to more than 10%.
As the Trump administration just announced its large-scale tariff plan, legendary Wall Street investor Stanley Druckenmiller, known as the "greatest money-making machine ever," rarely posted on X over the weekend, stating:
"I do not support tariffs above 10%, and I have made this very clear in the interview you cited."
According to previous reports by CCTV News, Trump plans to impose a "benchmark tariff" of 10% on all countries, which will take effect at 12:01 a.m. Eastern Time on April 5.
This is not the first time Druckenmiller has expressed this stance. In January, he stated in an interview:
"As long as we stay within the 10% range... I believe the risks of tariffs relative to returns are exaggerated, and the greater return is more about choosing the lesser of two evils."
Druckenmiller: Far More Than Just "Soros' Partner"
As mentioned earlier by Wall Street Insight, the 71-year-old billionaire Druckenmiller is not only a Wall Street investment legend but also expanding his influence through two key protégés who now hold important positions in the Trump administration: Betsente has become the Treasury Secretary, and Wash is a strong contender for the position of Federal Reserve Chairman.
Insiders familiar with the situation reveal that Druckenmiller maintains close contact with these two protégés, even described as having a "father-son relationship." His communication with Wash is particularly frequent, sometimes reaching several dozen calls per day.
Druckenmiller has long been concerned about the U.S. fiscal deficit issue, calling it a "debt bomb," and criticizes the government's "excessive spending" on welfare programs such as social security. During the pandemic, he publicly criticized the Fed for raising interest rates too slowly, fueling uncontrolled inflation.
However, Druckenmiller's position in the U.S. political spectrum is relatively complex. Prior to last year's presidential election, he publicly stated that he did not intend to vote for Trump or Harris.
Notably, Druckenmiller disagrees with some economic views of the Trump administration. For example, Trump's proposed tax cut plan includes reducing tips, overtime wages, and social security.
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Original source: https://www.toutiao.com/article/7490455453063758390/
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