Donald Trump’s trade war risks sparking capital flight from the US as the president’s unpredictable tariff policies cause “enormous” damage, hedge fund Elliott Management has warned.
The activist firm, founded and co-led by Republican megadonor Paul Singer, said in a letter to investors seen by the Financial Times that the Trump administration’s economic programme could tarnish the appeal of the dollar and of doing business in the US.
That would risk “capital flight” and a “significant” fall in value of the currency and US assets, Elliott said in a section of the late April letter titled “Bonfire of the American era?”
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