London
Cnn
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Rich business leaders turn against US President Donald Trump on his plan to impose a colossal set of prices on American trade partners, while losses are going up in stock markets around the world.
The billionaire investor Bill Ackman, who approved Trump’s presidential offer in 2024, warned Sunday that spending with the new prices corresponded to the launch of an “economic nuclear war”.
Trump said on Wednesday that he would impose much higher “reciprocal” prices on dozens of countries with the highest commercial imbalances with the United States.
In an article on X, Ackman said that “commercial investment will stop, (and) consumers will close their portfolios” if the new samples come into force. “We will seriously damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” he added in the position, which has been seen 10.6 million times.
Unless Trump changes emptiness, “we head for a self-induced economic nuclear winter and we have to start silent,” warned the CEO of Pershing Square Capital Management.
“What CEO and what board of directors will be comfortable to make significant and long -term economic commitments in our country in the midst of an economic nuclear war?” He said, adding that “the president loses the confidence of business leaders around the world”.
Already, Trump’s reference rate at 10% on all imports of goods in the United States entered into force on Saturday, and dozens of savings are preparing for even higher samples from Wednesday. These harder countries include the main American trade partners China and the European Union, which are new functions of 34% and 20% respectively.
Other billionaires and rich business leaders have also openly criticized Trump’s pricing agenda in recent days when the fear of its economic benefits has seized the markets.
Jamie Dimon, CEO of JPMorgan Chase, warned on Monday that prices threatened to increase prices, to drive the world economy in a slowdown and weaken the American position worldwide.
“Recent prices will probably increase inflation and have to consider a greater probability of recession,” Dimon told the shareholders’ annual letter. “The question of whether the price menu causes a recession remains in question, but that will slow growth.”
Billionaire Stanley Druckenmiller, founder of the Duquesne Family Office, an investment company, said in a position on X on Monday that he had “did not support prices greater than 10%”. Druckenmiller is worth around $ 11 billion, according to the Bloomberg billionaire index.
Even Elon Musk – The richest man in the world and the best Trump Acolyte – said on Sunday that he hoped for a “zero -tail situation” between Europe and the United States. In an interview with Italian Deputy Prime Minister Matteo Salvini via a video connection, Musk said he wanted to see an effective “free trade area” created between Europe and North America.
Echoing Ackman, Simon Macadam, world deputy chief economist at Consultancy Capital Economics, said that companies were likely to arouse investments due, largely, to the “pure uncertainty” of Trump’s pricing policy.
“If you are a company of medium size or even large capitalization, you will be very hesitant on what to do,” he said.
“If these prices will be negotiated again in a few months, then you would waste your time potentially investing hundreds of millions of dollars in new factories … in the United States,” he told CNN.
In his article, Ackman said that the new prices were “massive” and “disproportionate”, saying: “This is not why we voted”. He called for a “dead time” of 90 days in which Trump could negotiate with business partners to “resolve unjust asymmetrical tariff agreements”.
Trump said his price program is designed to correct the years of unbalanced commerce between America and its partners, in its opinion, by other countries imposing higher prices on American products imported into its markets than the United States.
But investors are clearly not convinced by the wisdom of Trump’s plan. The stock markets in Asia and Europe plunged on Monday and the term contracts underlined another bad day for American actions, after the announcement of Trump’s prices last Wednesday.
