Billionaire investor Bill Ackman, head of the Pershing Square hedge fund and a known supporter of Donald Trump, recently issued a stark warning to the former President via social media. Ackman criticized Trump’s decision to impose “massive and disproportionate tariffs” on both allies and adversaries, stating this approach undermines trust in the United States as a reliable trade partner and investment destination.
Ackman called for a “90-day pause” to negotiate the “unfair and asymmetric” tariffs, predicting that if the U.S. launches what he termed an “economic nuclear war” on April 9 against all nations, it would severely damage the country’s reputation, taking decades to mend, while simultaneously reducing both consumption and investment. He further noted that Trump “is losing the confidence of business leaders worldwide” and stressed that the repercussions could be dire for “low-income consumers,” many of whom are among Trump’s millions of voters. Ackman concluded, “This is not what we voted for.”
Ackman’s criticisms add to those expressed by JPMorgan Chase Chairman Jamie Dimon. Dimon recently remarked that Trump’s tariff policies are creating “the most dangerous and complicated geopolitical and economic environment since World War II.”
In a letter to the bank’s shareholders, Dimon emphasized that Trump’s “America First” stance, which involves imposing high tariffs on trade partners and strategic competitors, threatens to undermine the country’s leading global position. “If the Western world’s military and economic alliances were to fragment, the United States would undoubtedly weaken over time. It is crucial to understand that security and economy are interconnected; economic ‘wars’ have historically led to military conflicts,” Dimon stated.
Even Elon Musk appears to be distancing himself from Trump on this issue. Over the weekend, Musk advocated for “zero tariffs” between the United States and the European Union, promoting the establishment of a free trade zone with greater freedom for worker mobility.
