Overview

• President Trump announced a 90-day suspension of tariffs for over 75 international partners, while raising tariffs on Chinese imports to 125%.
• The stock market surged in response, with the Dow Jones Industrial Average climbing 2,000 points and the S&P 500 rising over 9%.
• Hedge fund manager Bill Ackman praised the decision as 'brilliantly executed,' calling it a strategic move to reset trade negotiations.
• Ackman also warned that prolonged aggressive tariffs could lead to bankruptcies among small and medium-sized businesses, urging caution moving forward.
• Ackman’s Pershing Square Holdings fund, which suffered a 14% loss year-to-date, saw gains as markets rebounded following the tariff pause announcement.