Trump ‘Most Pro-Business President We’ve Ever Had’

On Tuesday on CNBC's “Squawk Box,” Pershing Square Capital Management CEO Bill Ackman said President Donald Trump has been the best for business during his time in office.

Ackman said, “Yes. I would say there's a lot of positives here. Let me be optimistic for a moment. I'm negative about New York if he gets elected, but I'm positive about the country. You know, obviously we have the most pro-business president we've had in a very long time. And we also have a lot of, you know, very important things that have been announced, but the effects are not yet in effect.” came into force.”

He continued: “So, one infrastructure bill from the past, we have a more recent tax bill that gives 100% depreciation. In terms of investment, we have this huge investment in infrastructure, you know, it's like building railroads, you know, in the early 20th century. We have the impact of artificial intelligence on productivity, which is just starting to, you know, make a significant impact.” effect. We have interest rates going down significantly ten years later, you know, 4%. We have an accommodative Fed that will likely lower interest rates. You know, so this is all, I would say, very positive for both the economy and the markets.”

Co-host Joe Kernen said: “There was a time when I don't think you would call Trump the most pro-business president, when a lot of people were worried about tariffs. A lot of people were worried about tariffs, obviously, in April. Did those tariffs never happen? The worst-case scenario obviously didn't happen. And probably at this point most people think they're unlikely will happen.”

Ackman said, “I actually think Trump has been the most pro-business president we've ever had.”

He added: “I was a little concerned, you know, about the scale of the tariffs and how quickly they would be implemented. My proposal to the president was a 90-day pause. And, to his credit, he, you know, reversed that position.”