Wall Street Execs Privately Credit Dimon and Ackman for Swaying Trump on Tariffs

Wall Street has gotten its way for decades, Scott Bessent argued Wednesday morning, declaring “It’s Main Street’s turn.” Then Wall Street had its best day in 16 years.

Hours after the Treasury secretary’s full-throated defense of Donald Trump’s “Liberation Day” tariffs, the president embraced an idea pushed by billionaire hedge funder Bill Ackman: Pause the levies for 90 days, rather than — as Ackman put it — risking a “self-induced, economic nuclear winter.”