Americans in the automotive industry from Warren, MIA, a suburb of Detroit, are surpassed for President Trump’s new tariff policies advocating for domestic production.
Founder of Bridgewater’s associates Ray Galio Late on Wednesday, the United States urged a deal with China, as the two superpowers escalate the retaliatory tariffs to each other, sending global reserves into uncertainty.
In the X’s announcement, the billionaire said that it is now imperative that all parties involved “to rethink their approaches”.
“There are better and worse ways to deal with our problems with unsustainable debt and imbalances, and President Trump’s decision to withdraw from a worse way and negotiate how to deal with these imbalances is a much better way.”
Dalio’s lining comes hours after Trump said he was Raising tariffs for Chinese goods At 125% in terms of Beijing’s “lack of respect” to America, while pausing and reducing the reciprocal tariffs of other countries that were released only last week. The move came in response to China, announcing that it is increasing its reciprocal tariff for US products from 34% to 84%.
Trump says he further raises tariffs in China, pausing reciprocal tariffs for others
Ray Dalio talks on stage during the Wall Street Journalournal 2024 The Future of the Future of Spring Studio on May 22, 2024 in New York. (Dia Dipasupil / Getty Images / Getty Images)
For other countries, meanwhile, the Trump administration has said it will have a 90-day break on tariffs due to the large volume of more than 75 countries contacting the White House to reach an agreement.
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Dalio said he hoped Trump would conclude a deal with China that would appreciate the yuan against the US dollar, “achieved by Chinese sales for dollar, and also facilitate their fiscal and monetary policies to stimulate their demand.”
President Donald Trump shows a signed executive order imposing tariffs on imported goods during the White House event on April 2. (Andrew Harnik / Getty Pictures / Getty Pictures)
“This will be a victory. The Chinese then need to restructure and earn their excessive local government debt to overcome their debt behind them,” Dalio said. “In one way or another, there will be major changes in debt/monetary orders to tackle the problem of debt, trade and capital imbalances.”
The National Bank of China (PBOK) building in Beijing, China, on Friday, November 8, 2024. (Getty Images / Getty Images)
Dalio said the next move by Trump’s administration should be to deal with the US deficit by reducing only 3% of GDP.
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“This is also a great time for investors who were shocked and terrified of what happened (and what could happen) to rethink their approaches to structure their portfolios so that they do not have such unbearable risks,” Dalio said, warning that “another worse case in the market.”
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