WASHINGTON: Billionaire Bill Ackman criticized Trump’s sweeping tariffs, calling them “economic nuclear war” in a social media post.
Ackman, a Trump 2024 supporter, warned the levies could paralyze the US economy and business investments.
He said consumer spending would collapse if the full set of new tariffs takes effect April 9.
The hedge fund boss warned of lasting global damage to America’s reputation from Trump’s trade approach.
His post on X drew 8.9 million views within hours of being published Sunday.
Tariffs Begin
Trump’s base-level 10% tariff began Saturday, with more severe levies set for activation Wednesday.
Nations are scrambling to respond, fearing economic backlash and supply chain disruptions.
Ackman urged Trump to halt the process and take a “90-day time out” from new tariffs.
He proposed using the break to renegotiate what he calls “unfair asymmetric” trade agreements.
Without this pause, Ackman warned global investor confidence in US leadership could evaporate quickly.
Business Concerns Grow
Ackman stated that “the president is losing the confidence of business leaders around the globe.”
He stressed that support for Trump wasn’t meant to cause global instability and trade uncertainty.
“This is not what we voted for,” Ackman wrote, expressing dissatisfaction with the administration’s recent choices.
He emphasized that business leaders expected smarter negotiation, not broad economic confrontation.
Ackman said Trump’s current approach risks lasting economic harm far beyond short-term political gain.
Investor Fear Spreads
Business groups now fear long-term investment slowdowns and international backlash from aggressive US trade policies.
Markets remain volatile as investors digest the impact of Trump’s new economic stance.
Some fear these tariffs could spark recession-level effects across multiple sectors.
Ackman’s comments highlight rising concern even among Trump’s high-profile financial supporters.
He joins a growing list of business leaders urging Trump to reconsider the tariff expansion.
Damage to Reputation
Ackman believes America’s global standing will suffer for “years, maybe decades” if tariffs stay in place.
He warned that allies and trade partners would begin to distrust US commitments and economic behavior.
Rebuilding broken trade relationships may become increasingly difficult, even under new leadership.
“Economic war,” Ackman called it, stressing the need for more strategic, measured negotiations.
He noted that damage to trust can’t be reversed quickly with speeches or press releases.
Call for Talks
Ackman urged Trump to invite global trading partners back to the negotiating table.
He argued that lasting solutions come from dialogue, not economic punishment.
His call for a timeout signals urgency within the US financial community.
Ackman said the White House should lead with strength, not fear or unpredictability.
He wants results, not reckless moves that isolate America from global commerce.
Dissent From Supporters
Ackman’s stance shows cracks within Trump’s base of wealthy supporters and donors.
Many did not expect the aggressive trade war tactics taking center stage.
Economic uncertainty now threatens to overshadow Trump’s campaign messaging.
Business figures are increasingly speaking out against tariff-first strategies.
Ackman’s post may inspire other financial leaders to break their silence.
Future of Policy
Trump has defended the tariffs as essential to protecting American jobs and correcting imbalances.
But critics argue they hurt consumers and businesses more than foreign governments.
Experts say retaliatory tariffs from China and Europe could intensify economic strain.
Negotiations may hinge on whether Trump adjusts his plan before Wednesday’s additional tariffs begin.
Ackman’s post highlights the deep division between politics and business in the new trade environment.
