In This Article:
(Bloomberg) -- Blackstone Inc. President Jon Gray warned investors against making knee-jerk decisions around President Donald Trump’s tariff drama and instead advised waiting to see how the underlying negotiations play out.
Most Read from Bloomberg
-
They Built a Secret Apartment in a Mall. Now the Mall Is Dying.
-
Why Did the Government Declare War on My Adorable Tiny Truck?
-
Chicago Transit Faces ‘Doomsday Scenario,’ Regional Agency Says
-
LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs
“Have a little bit of patience,” Gray told the Asia Pacific Financial and Innovation Symposium in Melbourne on Tuesday. “Watch this tariff diplomacy evolve and make your investment decisions over a longer period of time. I think the danger in a period like this is you do something short term and you lose opportunity.”
Markets have been gripped by anxiety about the economic impacts of an all-out trade war as Trump appears to decide new tariff policies on a near daily basis. Investors this week have taken some relief from signs the coming wave of US tariffs is shaping up as more focused than the barrage Trump has occasionally threatened.
“I think you have to step back a bit,” Gray said. “Governments can react, they can decide to make concessions, and then ultimately where this lands is a different place.”
Trump on Monday indicated nations will receive breaks from next week’s “reciprocal” tariffs, ahead of a sweeping announcement scheduled for April 2. The president told reporters the roll-out would feature rates on a country-by-country basis corresponding to tariffs and other trade barriers on US products.
While investors may be freezing their activity as daily news headlines continue to shock and upend markets, Gray said he views the bigger picture outlook as “not so bad.” A more cautious environment was ultimately probably better than one of “super-confidence,” he said.
“This is not 2000, it’s not 2007, it’s not 2021, where you were sitting in meetings being like, I can’t believe we’re paying this for — fill in the blank — infrastructure, real estate, private equity,” said Gray. “Now we’re in an environment where pricing is generally reasonable.”
Most Read from Bloomberg Businessweek
-
The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending?
-
How TD Became America’s Most Convenient Bank for Money Launderers
©2025 Bloomberg L.P.