Thomas Peterffy Backs Tariffs, Says ‘We’ve Seen the Bottom’
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Billionaire Thomas Peterffy has heard the arguments that the across-the-board tariffs announced last week by President Donald Trump should have been rolled out more gradually to give companies time to adjust. He’s not buying it.
“If these tariffs were just a future promise, people may be reluctant” to commit the money and effort needed to reshore businesses or seek alternative suppliers, said Peterffy, 80, founder of Interactive Brokers Group Inc. “People may not firmly believe it’s going to happen.”