- Donald Trump on Wednesday announced a 90-day pause in his tariff plan against some countries.
- Stocks, which had fallen following news of his aggressive strategy, surged in response to the pause.
- Business leaders across the spectrum, from Bill Ackman to Mark Cuban, reacted disparately.
President Donald Trump on Wednesday announced a 90-day pause in his aggressive tariff plan against some countries, sending ripples through the business community.
The market, which had plummeted following news of the president's trade strategy, surged in response to the planned pause, while industry leaders from across the political spectrum gave their initial reactions.
Billionaire hedge fund manager Bill Ackman in a post on X wrote "This was brilliantly executed by @realDonaldTrump. Textbook, Art of the Deal."
Ackman had previously advocated for a pause in the tariffs being implemented "to enable negotiations to be completed without a major global economic disruption that will harm the most vulnerable companies and citizens of our country."
In response to a post by Shibetoshi Nakamoto, the pseudonym for Dogecoin co-creator Billy Markus, which read, "The next 4 years are gonna be an insane roller coaster, aren't they?" Tesla CEO Elon Musk replied simply with a "100" emoji.
Over on Bluesky, the X alternative social media site, Cost Plus Drugs cofounder and "Shark Tank" star Mark Cuban re-posted a statement from economist Paulo L dos Santos which described Trump's tariffs as "the Ivermectin of economic strategy," referencing the anti-parasitic drug used by some to treat COVID-19 infections, despite reservations from the medical community over its more widespread usage.
In a separate post made just before Trump announced the tariff pause, Cuban wrote: "What some people aren't factoring into their analysis is the reality that companies were buying tons of inventory to beat the tariffs. That's cash taken from being able to invest or hire. In fact the probably cut costs and jobs as a result."
