Barstool CEO Dave Portnoy shows general empathy toward the US President Donald Trump , having cast my vote for the Republican nominee in the latest election.
However, Portnoy did not agree with the administration's handling of signal-gate And delivered a passionate speech on Friday following Trump's latest set of tariffs, which cost him nearly $7 million in market value.
I've lost 7 million dollars in stocks and cryptocurrency, and it feels like I'm stuck in a tariff zone," Portnoy lamented on Twitter. " Trump has imposed tariffs everywhere.
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On April 2, Trump imposed extensive tariffs on numerous countries, levying a 34% duty on Chinese imports which was reciprocated by them, along with an additional 10% tax on all imported products.
“I’ve been attempting to grasp their point,” Portnoy went on. “But I just can’t wrap my head around it. It’s kind of like dealing with a trade imbalance tariff. You know, something along the lines of: for every so much ***** we receive from you, you should be getting an equivalent amount back from us. We could come up with some crazy equation involving tariffs instead. Everything seems messed up due to all of this.”
In early March, Portnoy disclosed that an individual from the team of U.S. Secretary of Commerce Howard Lutnick was involved. reached out to him regarding a possible role within his division .
A few months back, I received a call saying, ‘Dave, would you be interested in joining the Department of Commerce with Lutnick?’" Portnoy recounted, explaining his refusal: "They mentioned that as part of joining the government, someone would need to oversee Barstool.
Despite losing millions of dollars, the Barstool CEO confessed that he maintained trust in both Trump’s and Lutnick's approaches. "I cast my vote for Trump. In my opinion, Trump possesses sharp acumen," he added You might not have feelings for him, but I believe he's intelligent.
"Howard Lutnick seems intelligent to me. I believe they have more expertise than I do regarding these tariffs. Additionally, I feel like he’s involved in a high-stake gamble here,” he went on to say.
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I'll team up with him for a few days, maybe a few weeks, to see how things develop... I'm going to give Trump the benefit of the doubt here.