Listen to this full episode of The New Abnormal on Apple Podcasts, Spotify, Amazon and Stitcher (update links).
Billionaire MAGA firebrand Bill Ackman pleaded with President Donald Trump over the weekend to pause the rollout of his devastating tariffs after the stock market cratered last week at levels not seen since March 2020.
“I don’t think this was foreseeable,” Ackman wrote in a series of posts on X over the weekend. “I assumed economic rationality would be paramount. My bad.”
The New Abnormal’s Danielle Moodie and Andy Levy said Ackman—and the rest of MAGAworld—should have seen this all coming. After all, Trump ran on tariffs.
“Trump did not hide the fact that he was going to impose steep tariffs. He explicitly ran on that,” Levy said. “So I do not want to hear from anyone, let alone Bill Ackman… this wasn’t foreseeable.”
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Ackman warned of an “economic nuclear winter” if Trump does not backtrack and postpone the tariff rollout by 90 days.
“Back on the campaign trail, he (Trump) said that tariffs were his favorite word, even though all of the world’s economists said that his economic plan would send us spiraling,” Moodie said. “And so here we are.”
Plus! The Bulwark editor Jonathan V. Last discusses why he believes the American-led world order is over.
Then, Semafor finance and business editor Liz Hoffman talks about why Wall Street is suddenly panicking about Trump’s economic agenda.
Listen to this full episode of The New Abnormal on Apple Podcasts, Spotify, Amazon and Stitcher.
