Bill Ackman, a supporter of Donald Trump and head of the billionaire fund, said the president lost the confidence of business leaders and is expected to suspend his trade war – which could cause economic collapse while damaging his supporters the most.
“The president has the opportunity to call a 90 -day stopping time,” said Ackman on Sunday in an X article, to resolve commercial problems via negotiation.
“If, on the other hand … We are launching the economic nuclear war in all the countries of the world, commercial investments stop, consumers will close their portfolios and their pocket books, and we will seriously damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate.”
Although Trump made imposing prices part of his victorious electoral campaign in 2024, which Agrman approved, the post X of the billionaire fund manager said: “This is not why we voted.”
The Ackman post came after Trump’s prices suffered $ 6 TM reduction on American actions. Asia and European markets have also dropped.
Trump prices are 10% in all areas, with higher rates for around 60 countries.
Late on Sunday on Air Force One, Trump told journalists that he had spent the weekend talking to leaders of Europe and Asia who had tried to convince him to reduce his prices – some who have up to 50% and should come into force this week.
But Trump said that these counties should pay “a lot of money on an annual basis” to reconsider.
In his article, Ackman also said: “By placing massive and disproportionate prices on our friends and enemies and thus launching a world economic war against the whole world, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital.”
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Staying the course would mean “heading for a self-induced economic nuclear winter, and we should start to be silent,” said Ackman’s position. “May the cooler heads prevail.”
There was no immediate indication that pleaders such as Ackman would persuade Trump. During his Air Force One Talk with journalists on Sunday, he said: “I don’t want nothing to drop. But sometimes you have to take medication to repair something.”
