From Ray Dalio to Bill Ackman, billionaires and CEOs sound off on Trump's tariff pause

Ray Dalio, the founder of Bridgewater Associates, reacted to news of the 90-day tariff pause by emphasizing the need for consistent and well-communicated trade policies. On X (formerly Twitter), he wrote:

“This is a great time for all involved to reconsider their approaches! There are better and worse ways of handling our problems with unsustainable debt and imbalances, and President Trump’s decision to step back from a worse way and negotiate how to deal with these imbalances is a much better way.

I hope and expect that he will do the same with the Chinese, which I believe includes negotiating a deal that appreciates the RMB against the dollar, achieved by the Chinese selling dollar assets while also easing their fiscal and monetary policies to stimulate their demand. This would be a win-win.”

Billionaire hedge fund manager Bill Ackman praised the president for how the tariffs — and their pause — played out, saying these 90 days would allow the U.S. to address trade imbalances. On X, he wrote, “This was brilliantly executed… Textbook, Art of the Deal.”

Ackman had previously advocated for a tariff pause to allow for negotiations “without a major global economic disruption.”

Billionaire businessman and TV personality Mark Cuban reposted a statement from economist Paulo dos Santos on Bluesky that said “Trump’s tariffs are the Ivermectin of economic strategy,” in reference to the antiparasitic drug some recommend to treat COVID-19 despite heavy reservations from the medical community.

Cuban, a supporter of Kamala Harris in last year’s presidential campaign, had previously expressed dissatisfaction with Trump’s tariffs, writing on Bluesky, “Elections have consequences.”

Earlier this week, Richard Branson, the co-founder of the Virgin Group, urged the president to “own up to (the) colossal mistake” that were his tariffs. After news of the pause, Branson wrote on X, “As I wrote earlier this week, this was a moment for the US administration to accept their mistake and change course. This reversal is a huge relief for the whole world.”

David Sacks, a former PayPal (PYPL) chief operating officer and current White House adviser, said the tariff negotiations were a massive strategic victory for the president. He wrote on X of Trump’s critics:

“They did everything they could to create a panic. They predicted a Black Monday that never came. They became jubilant over an intraday correction on Tuesday. They were rooting for Trump to fail even if it meant the market and economy crashed. Fortunately their hopes have been dashed. Trump has been vindicated. China is isolated, and the rest of the world is lining up to negotiate new trade deals. Do you think this would have happened if Trump had asked nicely? Maybe if he had said pretty please? Never. This was the only way to rewrite the rules of global trade. Once again, Trump was right about everything!”

Canadian investor and TV personality Kevin O’Leary wrote on X that the 125% reciprocal tariffs Trump imposed on China amid the tariff pause on the rest of the world are “NOT ENOUGH.” O’Leary said he’d implement 400% tariffs on China. He wrote:

“China doesn’t play fair, and it’s time we stop letting them get away with it.

For decades, they’ve STOLEN intellectual property from American companies, including mine, and used it to UNDERCUT us in our own markets. They’ve broken every promise they made when they joined the World Trade Organization, and we’ve just looked the other way. That ends NOW. …

This isn’t about politics. It’s about FAIRNESS. It’s about PROTECTING INNOVATION. And it’s about sending a message: YOU CAN’T CHEAT YOUR WAY TO THE TOP ANYMORE.”

Cliff Asness, the co-founder of AQR Capital Management, responded to Bill Ackman’s post on X claiming the tariffs were “brilliantly executed” by writing, “For me, one of the main benefits of making some money is not having to wear a gimp suit for anybody.”

Asness has since reposted a tweet that says, “Trump’s tariffs won’t make the national debt easier to pay. They won’t bring down inflation. They won’t bring back manufacturing. They won’t make America more manly, or bring meaning to our lives.”

Spencer Hakimian, the CEO of Tolou Capital Management, criticized the tariffs’ inconsistent rollout. “Nothing accomplished. Nothing changed. But somehow we won. Nice” In another tweet, Hakimian wrote of Trump’s recent announcement that he’s raising the reciprocal tariffs on China to 145%, “Lol just a completely ridiculous clown show.”

He also wrote: “*If this holds*, this is now just a recession. No longer a Great Depression. Worst case scenario has been avoided for now. But clearly no *benefit* to the U.S. economy versus early January.”