Billionaire Trump Backer Bill Ackman warns of “economic nuclear winter” on customs duties

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 disturbances 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 other prominent personalities in Wall Street, with the Chairman of the Board of Directors of Jpmorgan Chase Jamie Dimon He said that Trump’s tariff risks raising the prices of Americans.

Despite the shocks, the American president is advancing, As the White House rushes to naming rumors, it may put a new tariff on a temporary stop as “fake news”.

The rumors on Monday morning that Trump was considering a temporary stop for 90 days for a short period of time in the drowned stock market quickly after being reported on the CNBC financial network.

The White House immediately dropped the report, indicating Trump’s commitment to new import taxes. Stock prices have settled greatly after that.

The 10 % “basic” definitions on most of the commodities in the country announced last week have already entered into force, while it is expected that the “mutual prices” that he wants to impose on the “worst criminals” later this week will be. Some countries seek to negotiate lower rates with the White House.

The new definitions, which have been added to the acute fees that Trump has already placed on goods from Canada and Mexico, as well as all car imports, are concerned about business leaders and economics that they will raise the prices of American consumers and raises a global trade war.

Blackrock president, the world’s largest asset manager, said on Monday that the definitions will raise prices and possibly inflation and contribute to economic shrinkage, according to media reports.

“Most of the executives I talk to say we are likely to stagnate at the present time,” Larry Fink, CEO of the company, said at a meeting of the Economic Club in New York.

Goldman Sachs said on Sunday that there is a 45 % possibility for the United States, which is racked during the year, after estimating a 35 % possibility a week ago, before Trump revealed his identification plans at an event called “Liberation Day”.

Trump says that import taxes will strengthen his country with new jobs and investment.

He defended them on Sunday, and informed journalists on Air Force One that “sometimes you have to take the medicine to fix something.”

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.

The “mutual” rates of the Trump administration, which can reach 50 %, will be imposed on some 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. On Monday, Trump threatened to put an additional 50 % tariff on the goods of the country, which will achieve the total taxes that he intends to impose on more than 100 %.

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, their retreat has presented the president of JPMorgan Chase, a banking giant, warning against “many aspects of 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 domain 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.”