Billionaire investor Bill Ackman says he wouldn’t be shocked if President Trump presses pause on his upcoming tariff plan. In a post shared on April 5, Ackman wrote that Trump “captured the attention of the world,” but added he would “not be surprised to wake up Monday with an announcement from the President that he was postponing the implementation of the tariffs to give him time to make deals.”
According to Ackman, the timeline is already tight. With tariffs scheduled to spike further on April 9, he argued there’s little room left to negotiate. He said the delay would not only allow for potential trade deals but also give companies more time to prepare, warning that rushing through the hikes could “drive the economy into a recession, potentially a severe one.”
Market Sell-Off Highlights Recession Fears
Markets have already reacted sharply. The S&P 500 just posted its worst three-day stretch since 2008. Small caps officially entered a bear market. And volatility has exploded, with the VIX rising above 60.
JPMorgan Chase (JPM), in an internal note obtained by Fortune, raised its U.S. recession probability to 60%—citing rising costs, squeezed margins, and an expected drop in consumer spending if tariffs move ahead. Goldman Sachs is close behind. As reported in a client note sent late Sunday, Goldman lifted its own recession risk to 45%, adding that if tariffs take full effect, “we expect to change our forecast to a recession.”
Powell Says Fed Isn’t Rushing to Cut
Despite the panic in equities, the Fed isn’t ready to act just yet. Federal Reserve Chair Jerome Powell, speaking to reporters on Friday at a closed-door briefing confirmed by Investors.com, said the central bank is watching the situation but still sees the U.S. economy as “resilient.” Powell noted growth is likely to slow and inflation may tick higher, but stopped short of signaling a near-term rate cut.
While Ackman is floating the idea of a delay, others aren’t so sure. In an interview with MarketWatch, one senior White House adviser said there’s “no current plan to shift the timeline,” though they admitted calls have been pouring in from both business leaders and foreign officials.
Tariffs Hammer Key Stocks Ahead of April 9 Deadline
The tariff fallout isn’t theoretical—it’s already showing up on the tape. Boeing (BA) has sunk to a two-and-a-half-year low, while Tesla (TSLA) faces estimated cost hikes of $4,000 per vehicle due to new import duties. Apple (AAPL) could take a $33 billion annual hit—about 26% of its 2025 operating profit—if the tariffs stick. Ford (F), General Motors (GM), and Nike (NKE) are all under pressure too, with higher input costs and shrinking margins looming large.
It’s not just individual names. The S&P 500 (SPY) has slipped over 4% in recent sessions, while the Russell 2000 has fallen more than 20% from its highs, officially entering bear market territory.
To stay on top of how these tariffs are rippling through the market, investors can use the TipRanks Stock Comparison tool. It lets you easily evaluate key metrics—like analyst ratings, valuation, Smart Scores, and recent performance—across companies exposed to tariff risks.
