PANews reported on April 8 that Ken Fisher, the billionaire founder of Fisher Investments, slammed Trump's latest tariff policy on the social platform X, calling it "stupid, wrong and extreme," and pointed out that the tariff policy attempts to solve the "false proposition" of the US trade deficit. He believes that the trade deficit has never had a causal or predictive effect on the economy, and Trump's related remarks are "completely wrong." In addition, Fisher criticized the many practical obstacles to the implementation of the policy, including insufficient customs enforcement capabilities and legal challenges.
Fisher stressed that the market's fear of tariffs far outweighs the actual problems, which could be a bullish signal. He predicted that the market reaction this time might be similar to the stock market correction in 1998, which ultimately achieved an annual return of 26%. He also warned that if Republican congressmen fail to quickly restrain Trump's tariff policy, the future midterm elections could become a "bloody slaughterhouse."
