亿万富翁投资者比尔·阿克曼（Bill Ackman）声称，美国商务部长霍华德·卢特尼克（Howard Lutnick

这不是投资建议。作者在提到的任何股票中都没有立场。 WCCFTECH.com有披露和道德政策。

The ongoing saga of President Trump's tariffs continues to unfold, pushing futures in the US and spot markets in Asia lower on Monday. As the president's advisers reportedly grow increasingly concerned, billionaire investor Bill Ackman has alleged that U.S. Commerce Secretary Howard Lutnick "profits when our economy implodes."

特朗普总统的关税的持续传奇继续不断增长，周一推动了美国的未来和亚洲的现货市场。据报道，随着总统的顾问的越来越关注，亿万富翁投资者比尔·阿克曼（Bill Ackman）声称，美国商务部长霍华德·卢特尼克（Howard Lutnick）“当我们的经济崩溃时获利。”

Trump has imposed a baseline tariff of 10 percent on all U.S. imports and a veritable host of reciprocal tariffs on some of the biggest trading partners of the U.S., with imports from the E.U. now subject to a 20 percent levy and those from China entailing an eye-water tariff of 54 percent (20 percent fentanyl-related levy +34 percent reciprocal tariffs).

特朗普对美国所有进口量的所有进口和名副其实的互惠关税征收了10％的基线关税，对美国的一些最大的贸易伙伴征收了互惠关税，目前，欧盟的进口率持续了20％的征收，中国的税率为54％（20％芬太尼相关的税率+34％百分比+34％的征收税率）。

Also, Steel, aluminum, vehicles, and auto parts remain subject to individual tariffs under Section 232, while tariffs on raw semiconductors are expected in the days and weeks ahead.

此外，根据第232条，钢，铝，车辆和汽车零件仍然受到个人关税的约束，而原始半导体的关税预计会在未来的几天和几周内。

However, in a development that caused utter panic on Wall Street on Friday, China has now retaliated by imposing a reciprocal tariff of 34 percent on all imports from the U.S. This measure is expected to invite another retaliation from the Trump administration in a seemingly unending game of one-upmanship.

然而，在周五在华尔街引起恐慌的发展中，中国现在通过对来自美国的所有进口征收34％的相互关税进行了报复，这项措施有望在看似无休止的一项上升游戏的比赛中再次报复特朗普政府。

What's more, despite feeling the heat over the ongoing bloodbath in markets across the globe, Trump appears to be doggedly pursuing his lofty goal of ending all trade deficits for good. This persistence precludes a benign outcome for the markets at large, at least for the foreseeable future.

更重要的是，尽管感觉到全球市场正在进行的血液中的热量，但特朗普似乎在追求自己的崇高目标，即永久消除所有贸易赤字。至少在可预见的将来，这种持久性排除了整个市场的良性结果。

This figure will accrete to 100 percent over the coming weeks as long as the erroneous and ill-advised "liberation day" tariffs remain intact. These tariffs are bad for everyone except China and bankruptcy attorneys.

只要错误和不明智的“解放日”关税仍然完好无损，这个数字将在接下来的几周内增值100％。这些关税对中国和破产律师以外的所有人都不利。

Moreover, CDS pricing now assigns a 62 percent probability to a recession materializing in the U.S. in 2025, while JPMorgan (NYSE:JPM) also expects an economic contraction in the U.S.

此外，CD的价格现在为2025年在美国实现的衰退概率分配了62％

This brings us to the crux of the matter. At the time of writing, Dow futures are down over 900 points or ~2.5 percent. Last week, the Dow posted losses of more than 1,500 points on two consecutive days. Meanwhile, the S&P 500 futures are currently down 2.9 percent, and the tech-heavy Nasdaq-100 futures are down ~4 percent.

这使我们进入了问题的症结。在撰写本文时，陶氏期货下降了900点或约2.5％。上周，道琼斯指数连续两天的损失超过1,500点。同时，标准普尔500指得期货目前下跌2.9％，而技术繁重的纳斯达克-100期货期货下跌了约4％。

The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust.

该国落后于总统，确定了使该国处境不利的全球关税制度。但是，业务是一个信心游戏，信心取决于信任。

President @realDonaldTrump has elevated the tariff issue to the most important geopolitical…

@realdonaldtrump总统将关税问题提升到了最重要的地缘政治…

— Bill Ackman (@BillAckman) April 6, 2025Earlier on Sunday night, Bill Ackman, who is generally considered a firm Trump supporter, penned a sympathetic if cautious X post on tariffs.

- 比尔·阿克曼（Bill Ackman）（@billackman）2025年4月6日在周日晚上，比尔·阿克曼（Bill Ackman）通常被认为是特朗普的坚定支持者，他在关税上持谨慎态度的X帖子表示同情。

I just figured out why @howardlutnick is indifferent to the stock market and the economy crashing. He and Cantor are long bonds. He profits when our economy implodes.

我只是想出了为什么@howardlutnick对股票市场和经济崩溃无动于衷。他和康托尔是长期的纽带。当我们的经济崩溃时，他获利。

It’s a bad idea to pick a Secretary of Commerce whose firm is levered long fixed income. It’s an irreconcilable…

选择一位企业杠杆固定收益的商务部长是一个坏主意。这是一个不可调和的……

— Bill Ackman (@BillAckman) April 7, 2025However, as the bloodbath in markets resumed in earnest, Ackman seems to have changed his tone. To wit, the CEO of Pershing Square now believes that Howard Lutnick's interests are not aligned with those of America, given the bond-heavy positions of his firm. For the benefit of those who might not be aware, bonds generally outperform during periods of economic contraction as they benefit from the attendant reduction in interest rates.

- 比尔·阿克曼（Bill Ackman）（@billackman）2025年4月7日，随着市场上的血腥疗法的认真恢复，阿克曼（Ackman）似乎改变了他的语气。潘兴广场（Pershing Square）的首席执行官现在认为霍华德·卢特尼克（Howard Lutnick）的利益与美国公司的债券高度不满意。为了那些可能不知道的人的利益，在经济收缩期间，债券的表现通常胜过，因为它们从利率降低中受益。

No. I am long America and he is short. I am aligned with our country and our economy and he is short.

不，我很长，他很矮。我与我们的国家和经济保持一致，他很短。

— Bill Ackman (@BillAckman) April 7, 2025When a netizen pointed out that Ackman was equally conflicted, given his stake in Nike (NYSE:NKE), which stands to lose out from sky-high tariffs on Vietnam, the billionaire countered that he was "long America and he [Lutnick] is short."

- 比尔·阿克曼（Bill Ackman）（@billackman）2025年4月7日网民指出，鉴于他在耐克（NYSE：NKE）的股份，阿克曼（Ackman）同样矛盾，这将从越南对越南高的关税中输掉，亿万富翁（亿万富翁）反驳了他是“很长的美国，他[Lutnick]很短。”

Of course, this is just a small emblem of the turmoil that is now sweeping across Trump's inner circle. Should the crisis continue, one should reasonably expect such outbursts much more frequently and with added vehemence.

当然，这只是动荡的一个小标志，现在正在特朗普的内心圈子中席卷。如果危机继续下去，人们应该合理地期望这种爆发更加频繁，并且会增加。