Chamath Palihapitiya believes President Donald Trump’s tariff push could reshape global economics — and he’s not being subtle about it.
In a series of recent posts and comments, the venture capitalist and former Facebook executive said Trump should “hold the line” on tariffs, despite the market chaos. “Volatility aside — which matters to traders more than it should matter to long-term investors — the tariff gambit is working,” Palihapitiya posted on X.
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He sees this moment as a rare opening to reset the global trade system, comparing it to the landmark 1944 Bretton Woods Agreement. “There is an enormous opportunity here to write Bretton Woods 2.0 — The Mar-a-Lago Accords,” he wrote in another post. “Time favors Trump. The longer he takes, the more he will get.”
Global markets have been reeling since Trump announced sweeping tariffs on April 2. U.S. stock indexes tumbled last week, with the Nasdaq falling into bear market territory. Futures extended the slide Sunday night, and Asian markets took a beating as well. Bitcoin also dropped nearly 6%.
Still, Trump seems unfazed. Speaking to reporters aboard Air Force One, he said, “Sometimes you have to take medicine to fix something,” and reiterated he won’t back down until other countries even out their trade with the U.S.
“They’re dying to make a deal,” Trump said of other nations, adding, “We’re not going to have deficits with your country… We’re going to have surpluses or, at worst, going to be breaking even.”
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Palihapitiya also pointed out a major reason political support for market rescues may be fading. “The top 10% of American households own 88% of the total equities owned by American households,” he wrote. “The next 40% of households own 12%. This means the bottom 50% of Americans have ZERO interest in the stock market, are likely in debt and, simply, just want to do better.”
