Billionaire hedge fund manager Bill Ackman , who publicly backed Donald Trump ’s presidential bid, has voiced strong concerns about the administration’s escalating trade war , urging the president to pull back before the economy takes a major hit.
“The president has an opportunity to call a 90-day time out,” Ackman posted on X, proposing a temporary halt in the tariff fight to allow time for diplomatic negotiations.
The influential investor cautioned that if Trump doesn’t change course, the consequences could be catastrophic. “If, on the other hand ... we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate.”
With global markets already rattled, investors are bracing for further turmoil. Stock futures were down sharply Sunday night, continuing the two-day plunge triggered by Trump’s tariff declarations.
Ackman emphasized that business confidence—a key driver of the economy—is fading fast. “Business is a confidence game. The president is losing the confidence of business leaders around the globe,” he said, warning that the fallout could hit those who supported Trump the hardest.
“The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative.”
He pointed out that most companies—regardless of size — are ill-prepared to absorb sudden cost hikes resulting from tariffs . “Almost no business can pass through an overnight massive increase in costs to their customers. And that’s true even if they have no debt, and, unfortunately, there is a massive amount of leverage in the system,” he added.
Small and mid-sized firms, along with large corporations, could face enormous pressure if costs surge and consumer demand falters. Ackman also expressed skepticism toward administration officials who tried to downplay the potential for price increases, suggesting they were not facing economic reality.
“This is not what we voted for,” Ackman stated. “The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system. Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down. May cooler heads prevail.”
“The president has an opportunity to call a 90-day time out,” Ackman posted on X, proposing a temporary halt in the tariff fight to allow time for diplomatic negotiations.
The influential investor cautioned that if Trump doesn’t change course, the consequences could be catastrophic. “If, on the other hand ... we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate.”
With global markets already rattled, investors are bracing for further turmoil. Stock futures were down sharply Sunday night, continuing the two-day plunge triggered by Trump’s tariff declarations.
Ackman emphasized that business confidence—a key driver of the economy—is fading fast. “Business is a confidence game. The president is losing the confidence of business leaders around the globe,” he said, warning that the fallout could hit those who supported Trump the hardest.
“The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative.”
He pointed out that most companies—regardless of size — are ill-prepared to absorb sudden cost hikes resulting from tariffs . “Almost no business can pass through an overnight massive increase in costs to their customers. And that’s true even if they have no debt, and, unfortunately, there is a massive amount of leverage in the system,” he added.
Small and mid-sized firms, along with large corporations, could face enormous pressure if costs surge and consumer demand falters. Ackman also expressed skepticism toward administration officials who tried to downplay the potential for price increases, suggesting they were not facing economic reality.
“This is not what we voted for,” Ackman stated. “The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system. Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down. May cooler heads prevail.”
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