Time is friend of US, enemy of China in trade war

Ackman: If instead China stubbornly decides to hold out and not negotiate due to pride or other emotional issues, China will suffer that much more severe and permanent economic consequences. Pic courtesy of Bloomberg

WASHINGTON: Billionaire hedge fund manager Bill Ackman says China will need to strike a trade deal with the United States quickly as it can’t win a drawn-out trade war that will do severe damage to its economy. 

In a post on X, Ackman said Beijing “should be highly incentivised to make a trade deal as quickly as possible” because the longer high tariffs persist, the greater the likelihood that companies will lose faith in China as a market in which they can source or produce goods on economically viable terms.