Billionaire hedge fund manager Bill Ackman has called on President Donald Trump to delay his sweeping new trade tariffs, warning they could trigger a “self-induced, economic nuclear winter.”
Ackman, a vocal supporter of Trump since 2024, urged the president to give countries three months to renegotiate trade terms with the US.
His warning follows a turbulent period in global markets, with shares in Europe and Asia sliding sharply in response to the tariffs. JPMorgan Chase chairman Jamie Dimon also voiced concern, saying the levies risk driving up prices for American consumers.
Trump, however, defended the move, insisting that “sometimes you have to take medicine to fix something”.
He argues the tariffs will create jobs and attract investment, though economists caution they could spark a damaging trade war. Ackman criticised the measures as “massive and disproportionate,” failing to distinguish between allies and adversaries.