Billionaire Stanley Druckenmiller has again publicly criticized the new US tariff policy, led by President Donald Trump. In a rare publication on the social network X, this Sunday (6), the founder of Duquesne Family Office said: “Do not support tariffs above 10%.”
The statement recalled an interview given by Drumkenmiller to CNBC In January, in which he classified rates above the current level as harmful. “As long as we keep in the range of 10%, the risks are overestimated over the benefits,” he said at the time. He also considered taxes on imports as a consumption tax, partially paid by foreigners.
The post marks an explicit Druckenmiller distance from Trump’s tariff plan, which imposed a minimum rate of 10% on products from almost all countries, with rates that can reach 50% in some cases.
Since the announcement of the new tariffs, global markets have accumulated strong losses, the largest since the Covid-19 pandemic. Nevertheless, Trump’s allies minimized possible impacts. “I don’t believe US consumers will feel big effects,” said Kevin Hassett, director of the White House National Economic Council.
Trump defended the measure on his social truth network: “Hand on firm. It will not be easy, but the end result will be historical,” he said. On Sunday, the US President reiterated that he will not go back, treated the fares as “medicine” and fired: “Forget the markets for a second.”
Drumkenmiller, who supported Nikki Haley in the republican primary, said last year that he did not intend to vote for Trump or Kamala Harris in the elections.