Dan Loeb, speaking at the Economic Club of New York, criticized President Trump's tariffs for causing significant foreign capital flight from the U.S. He described the economic repercussions as a "giant whooshing sound" of capital returning to its source countries. Loeb urged the need for the Trump administration to negotiate trade deals with India, Japan, and Europe to stabilize the situation. He remains cautious about the overall market, stating that even potential deals may not alleviate concerns about the unpredictability of tariff policies, as some investors already faced funding loss due to heightened tensions with China.
Billionaire Dan Loeb expressed concern at the Economic Club of New York that Trump’s tariffs have driven foreign capital away from the U.S.
Loeb highlighted the need for the administration to secure trade deals with key partners like India, Japan, and Europe to mitigate capital flight.
He mentioned the negative impact on his friend’s private equity firm, which lost funding from a Chinese sovereign wealth fund due to tariff concerns.
Loeb remains skeptical about the market recovering fully, citing ongoing unease regarding the administration’s tariff policies.
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