Billionaire fund manager Bill Ackman, an ally of President Donald Trump, gave a public warning of a “self-induced economic nuclear winter” while begging for him to pause his sweeping tariffs.
Ackman acknowledged that he believed Trump was “fixing a global system of tariffs that has disadvantaged the country,” but also “launching a global economic war against the whole world at once.”
“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,” Ackman wrote on his X account Sunday (April 6). “The president has an opportunity to call a 90-day time out, negotiate and resolve unfair asymmetric tariff deals, and induce trillions of dollars of new investment in our country.
“If, on the other hand, on April 9th 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.”
“The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system,” he continued. “Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down. May cooler heads prevail.”
Trump is reportedly expected to meet with Israeli Prime Minister Benjamin Netanyahu on Monday (April 7) with the recently imposed global tariffs set to be part of the agenda, FOX News reports. Last Wednesday (April 2), Trump announced that the U.S. would impose trade barriers on American exports as part of sweeping “reciprocal” tariffs on other countries, which he dubbed “Liberation Day.”
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far. … Foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories and foreign scavengers have torn apart our once beautiful American dream,” Trump said via Yahoo! News.
“But it is not going to happen anymore,” he continued. “Reciprocal — that means they do it to us, and we do it to them. Very simple. Can’t get any simpler than that.”
The United States stock market experienced a significant downturn as the tariffs and trade wars were initiated, seeing the largest decline since the 2020 stock market crash influenced by the COVID-19 pandemic during Trump’s first of two non-consecutive presidential terms.
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