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Business elites turn against Trump over tariff shock Billionaires are turning their backs on President Donald Trump after he unveiled a sweeping plan to impose large-scale tariffs on imported goods, triggering a global stock market sell-off. Billionaire Bill Ackman — a former supporter of Trump’s 2024 campaign — called the new tariff plan an “economic nuclear war.” Ackman warned that if Trump proceeds, business investment will freeze, consumer spending will collapse, and America’s global reputation could suffer for years or even decades. Under the plan, Trump aims to impose significantly higher “reciprocal” tariffs on dozens of countries with large trade deficits with the U.S. A 10% baseline tariff on all imports took effect last Saturday, while China and the European Union will face new duties of 34% and 20% starting Wednesday. JPMorgan Chase CEO Jamie Dimon also raised concerns that the tariffs would raise prices, push the global economy toward recession, and undermine America’s standing. While it’s unclear whether a recession is inevitable, he warned the policy will “definitely slow growth.” Billionaire Stanley Druckenmiller said he opposes any tariffs above 10%. Meanwhile, Ken Fisher blasted the plan as “stupid, wrong, arrogantly extreme,” believing current fears exceed the actual threat and predicting it will eventually fail. Even Elon Musk — a known Trump supporter — expressed hope for a U.S.–Europe “free trade zone” instead of tariffs. Economists like Simon MacAdam warned that businesses are hesitant to invest in the U.S. due to Trump’s unpredictable policy shifts. Companies fear large investments could become wasted if the tariffs are reversed in a few months. Ackman urged Trump to pause for 90 days to renegotiate unfair trade deals rather than rushing forward. Trump, however, insists the tariffs are needed to fix long-standing trade imbalances. Despite Trump’s justification, investors remain unconvinced. Markets in Asia and Europe dropped sharply on Monday, and U.S. stock futures signal a rocky session ahead. Hashtags:

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has weighed in on recent political and economic turmoil in the U.S. with a vivid and controversial post. His book has been a long-standing best seller, translated into dozens of languages and sold worldwide, shaping global conversations around financial education and self-reliance. Kiyosaki shared on social media platform X on April 6: “Today, there is a new horror show known as President Trump and Elon Musk’s DOGE Chainsaw Massacre.” The famous author added: While I feel for the millions who are losing their jobs… something had to be done… and Trump and Musk are doing it. In a tone blending urgency and skepticism, the famous author acknowledged the economic pain being felt by many, but suggested that deep systemic cuts were necessary. “Even Warren Buffett is impressed,” he claimed, “simply saying it has to be done.” Kiyosaki continued: “I heard another commentator say, ‘The chemo is more painful than the cancer.’” The Department of Government Efficiency (DOGE), led by Musk, has initiated significant federal spending cuts, aiming to reduce the budget by up to $2 trillion. These measures have included mass layoffs and the elimination of various programs, leading to mixed reactions among federal workers and the public. Reflecting on the state of the government and its institutions, Kiyosaki reiterated: “While I feel the pain of those losing their jobs… I agree something had to be done. The swamp filled with corrupt bureaucrats… has to be drained.” The well-known author opined: My question is, ‘Will the cuts be enough?’ Can Trump and Musk save the dying U.S. dollar. I don’t know. Only time will tell. As he has often done, Kiyosaki concluded with a warning and a personal strategy: “In case the cuts do not save a dying and corrupt monetary system… I will continue to build my own gold, silver, and bitcoin standard.” The acclaimed author emphasized: I will continue buying more gold, silver, and bitcoin because I do not trust ‘the creatures lurking in the swamp.’ Kiyosaki has long promoted bitcoin as “people’s money” and frequently cautioned against relying on fiat currencies like the U.S. dollar, which he believes are being devalued by reckless government policies. His repeated warnings signal his belief that hard assets—especially gold, silver, and bitcoin—offer the safest path forward amid what he sees as a collapsing financial system. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Elon Musk tried to convince U.S. President Donald Trump to drop the implementation of global tariffs. Or Elon Musk personally asked Trump to reverse new tariffs but failed to sway him. - The Washington Post. 🤓

The announcement of a new tariff plan by U.S. President Donald Trump on April 2 led to a substantial financial impact on the world's wealthiest individuals. Over the course of two trading days, the collective wealth of 500 global billionaires decreased by more than $500 billion. The Bloomberg Billionaires Index indicates that Elon Musk remains the richest person globally, despite experiencing a loss of $134.7 billion in wealth this year. As of Monday, Eastern Time, Musk's net worth fell to $297.8 billion, marking the first time since November 2024 that his assets have dropped below $300 billion.

In the field of digital currencies, altcoins have been the center of attention since their inception. In 2011, two years after the emergence of Bitcoin, the first real altcoin, Litecoin, appeared. Its founder, Charlie Lee, modified the Bitcoin code, reduced the block generation time, and changed the algorithm, opening the door for altcoins. Since then, various types of altcoins have emerged like mushrooms after rain, most of which mimic Bitcoin or Ethereum and are developed by small teams or individuals, using similar technologies and algorithms, and often their names are distortions or imitations of major currencies, with their value far from that of major currencies. Alternative currencies were initially just a simple imitation of major currencies, such as modifying the block confirmation time in Bitcoin, and the total supply of coins, in order to create new currencies to raise funds. However, as the industry evolved, some alternative currencies began to innovate technically, like Ethereum, which relied on smart contracts, transitioning from simple copying to multiple functions, leading the trend in the development of alternative currencies, and resulting in the exploration of more alternative currencies in areas such as consensus mechanisms, transaction speed, and privacy protection. On the market performance level, alternative currency prices have seen severe fluctuations, achieving wealth legends, such as Dogecoin, which saw its prices rise dramatically due to promotion by Elon Musk, but it also sharply declined due to a lack of technical support and other reasons, causing losses for many investors. However, altcoins today face an unprecedented crisis. The scrutiny from the U.S. Digital Working Group and the SEC is intensifying, imposing higher compliance requirements on altcoins, and many non-compliant projects have been addressed. Additionally, exploitative behaviors by some projects severely damage market confidence, as certain projects have acquired large amounts of currencies through means such as pre-mining in the early stages, and then sold them for profit, leading to a collapse in currency prices and investors losing their money. Future predictions regarding alternative currencies are filled with uncertainty. On one hand, if alternative currency projects can actively adapt to regulatory requirements, enhance technological innovation, solve current issues such as security and trust, and build a stable community and application strategy, it is still possible for some high-quality alternative currencies to find a foothold in the market, becoming digital currencies with unique value. On the other hand, if regulations continue to tighten, and projects still exploit the situation, alternative currencies lacking technical and practical support are likely to be excluded from the market, leading them gradually to extinction. Investors must be extremely cautious when dealing with alternative currencies and conduct in-depth studies of the project's background, team strength, technological innovation, and market potential to avoid incurring significant losses.