Billionaire investor Stanley Druckenmiller shared a rare message on social media platform X on Sunday, emphasizing his long-standing stance against tariffs that exceed 10%.
The founder of Duquesne Family Office has consistently voiced his disapproval of U.S. tariffs surpassing the 10% mark. In a January interview with Finance Newso, he remarked, “As long as we stay in the 10% range, …I think the risks [from tariffs] are overblown relative to the rewards, the rewards on high, it’s more like they’re the lesser of two evils.”
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In his recent post on X, which marks one of the few times he has engaged on the platform, Druckenmiller distanced himself from President Donald Trump’s extensive tariff strategy, which features rates as high as 50% along with a baseline rate of 10% applicable to most countries.
In response to a video shared on X showcasing his Finance Newso interview from January, Druckenmiller reiterated, “I do not support tariffs exceeding 10%, which I made abundantly clear in the interview you cite.”
Following Trump’s tariff announcement, stock prices have plummeted, with market downturns that have not been seen since the onset of the Covid-19 pandemic.
On Sunday, allies of Trump defended the tariffs in various media appearances while attempting to downplay potential long-term economic impacts. Kevin Hassett, Director of the White House National Economic Council, expressed skepticism that the tariffs would significantly affect U.S. consumers.
The baseline 10% tariffs, which affect nearly all countries, took effect on Saturday morning. Trump commented on Truth Social as the tariffs rolled out, stating, “HANG TOUGH, it won’t be easy, but the end result will be historic.”
Druckenmiller has previously lent his financial support to Republican candidate Nikki Haley, even co-hosting a fundraiser to bolster her campaign.
As the general election in November approaches, Druckenmiller publicly declared that he does not intend to vote for either Trump or former Vice President Kamala Harris.
