Billionaire Trump backer Bill Ackman warns of ‘economic nuclear winter’ over tariffs happymamay

The supporter of billionaire Donald Trump urged the US President to stop the recently announced commercial definitions, or risk “the economic nuclear winter resulting itself.”

Amid the turmoil in the market, Bill Akman, director of the hedge fund, said that the president should take three months to allow countries to re -negotiate their trade relations with the United States.

On Monday, Mr. Akman’s warning was repeated by another prominent figure in Wall Street, with the Chairman of the Board of Directors of JPMorgan Chase Jimmy Damon, saying that the Trump tariff risked the raising of Americans.

Despite trauma shocks, the American president defended the new import taxes, saying, “Sometimes you have to take medicine to fix something.”

He says that this step will strengthen his country with new jobs and investments, but economists warn that prices may rise to Americans and raise a trade war.

The stock prices in Europe and Asia continued to decline on Monday, as the markets interact with the overwhelming global tariffs announced by Trump last week.

in Published on x On Sunday, Mr. Akman admitted the pretext of Trump that the World Trade System “deprived” the United States.

But he wrote, that the definitions imposed by Trump were “huge and non -proportional”, and did not distinguish between American friends and enemies.

Mr. Akman, founder of Pershing Square Fund Fund Management, became a high -level supporter of Trump, a Republican, in July 2024.

He had previously supported the competing Democratic Party, and was seen as an important electoral support from the business world.

In his ads last week, Trump revealed a 10 % “baseline” tariff on imports of the United States, at higher rates of up to 50 % facing dozens of other countries – including a number of important manufacturing centers in Asia.

Many countries have pledged to respond, and China has already retaliated for its new tariffs on the goods imported from the United States.

Mr. Akman commented that Trump had launched a “economic war against the entire world at the same time”, which was risked to destroy the investor confidence in the United States.

Mr. Akman said that the American leader is now “an opportunity to summon a period of 90 days, negotiate and resolve the unresponsive asymmetric tariff deals, and urges trillion dollars from the new investment in our country.”

His publication indicated on Sunday that he felt that the ball returned to the Trump court – after a previous message to X, which urged the leaders of other countries to “pick up the phone” to conclude a deal with Trump.

As stock markets continue all over the world on Monday, the president of the banking company, JPMorgan Chase, offered to take it, with a warning of “many uncertainty” about the new definition policy.

In a letter to shareholders, Mr. Damon said the definitions “will likely increase inflation and cause many to consider a greater possibility of stagnation.”

“The faster this problem is solved, the better because some negative effects increase cumulative over time and it will be difficult to do so.”

Trump officials have reduced the risk of stagnation. The 10 % baseline tariff is already valid, with high rates that some countries face on Wednesday.

Speaking on the presidential plane on a flight to Washington, DC on Sunday, Trump himself said that European and Asian countries “die to conclude a deal.”