In a fervent appeal to President Trump, billionaire investor Bill Ackman urged a halt to the ongoing trade war, warning that continuing the tariff battle could plunge the economy into dire straits. Expressing broad support for efforts to reform the global tariff system, Ackman cautioned that such actions can erode business confidence, which is vital for economic health.
Ackman reasoned that imposing steep tariffs indiscriminately on both allies and adversaries is detrimental, undermining the United States’ reputation as a reliable trading partner. He believes this is risking the trust businesses need to thrive, pushing for a 90-day truce to negotiate fair trade solutions that could unleash vast investments into the U.S. market.
Failure to act, he warned, could lead to a catastrophic ‘economic nuclear winter’, with thousands of jobs and livelihoods at stake. His urgent message came on the heels of Trump’s announcement of extensive new tariffs that resulted in severe stock market declines, marking one of the worst weeks for stocks since the onset of the pandemic.
As the market anticipates further drops, Ackman reiterated the need for immediate action to prevent widespread financial harm. Meanwhile, President Trump has remained resolute, dismissing the selloff as he asserted that tariffs are ultimately beneficial for the United States.
Bill Ackman has urged President Trump to pause the trade war, warning that continued tariffs risk an economic downturn. He highlights the negative impact on business confidence and advocates for a temporary halt to negotiate better trade deals. Following Trump’s tariff announcements, stock markets suffered significantly, intensifying Ackman’s call for immediate action to avert financial crisis, which contrasts with Trump’s commitment to his tariff policies.
Bill Ackman’s stark warning illustrates the potential economic fallout from the escalating trade war initiated by Trump. By advocating for a temporary ceasefire, he highlights the critical need for stable trade relations to maintain investor confidence and economic stability. Trump’s unyielding stance on tariffs, however, poses significant risks to both the market and broader economic health, emphasising the urgency of resolving trade disputes.
Original Source: qz.com
