Andy Beal, the wealthiest banker in the U.S., is countering the advice President Donald Trump is getting from others in the billionaire class, saying he should stay the course with his “shock and awe” tariff policies.
Beal offered his advice Tuesday, before Trump’s Wednesday announcement that he was putting a 90-day pause on reciprocal tariffs, while keeping in place a baseline 10 percent tariff as new trade deals are negotiated.
Beal, founder of Dallas-based Beal Bank, argued that the president’s endgame of reshuffling the world trade deck is worth enduring some short-term economic turbulence.
“Our huge and perpetual balance of trade deficit and our continual multitrillion-dollar fiscal deficit are simply not sustainable, and the sooner we deal with them the better and the less long-term
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