Billionaire hedge fund manager Stanley Druckenmiller opposes President Trump's tariffs surpassing 10%, citing concerns over market selloffs. Although he acknowledges the necessity of tariffs to address fiscal issues, he emphasizes moderation, describing them as a lesser evil compared to increasing income taxes. Druckenmiller advocates for tariffs as a means to generate revenue, likening them to a consumption tax primarily paid by foreigners. He expresses caution regarding potential retaliatory actions from foreign nations and maintains that tariffs should remain within the 10% threshold to mitigate risks associated with Trump's trade policies.
Druckenmiller expressed that while tariffs are a "lesser of two evils", he does not support them exceeding 10% due to potential market instability.
He emphasized that moderate tariffs could provide needed revenue, viewing them as a consumption tax primarily shouldered by foreigners.
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