Bill Ackman’s public campaign to sway Trump on tariffs

Key Points

  • Bill Ackman, a billionaire hedge fund manager, publicly campaigned for a pause on President Trump's tariffs, citing potential economic disruption.
  • Despite Ackman's support for Trump in 2024, he criticized the tariff implementation as a "mistake" and warned of an "economic nuclear winter."
  • Trump plans to increase tariffs on Chinese goods to 104%, ignoring calls for negotiation pauses.
  • Other Wall Street figures like Jamie Dimon and Larry Fink have also expressed concerns over the tariffs' economic impact.

Summary

Bill Ackman, the CEO of Pershing Square Holdings, has been vocal in his opposition to President Trump's tariff policies, advocating for a pause to mitigate potential economic fallout. Despite his support for Trump during the 2024 campaign, Ackman has labeled the tariff rollout as a significant policy error, predicting severe economic consequences if implemented without negotiation. Trump, however, remains steadfast, planning to increase tariffs on Chinese goods to 104%, which includes a 50% additional tariff on top of existing rates. This move has sparked a broader push for negotiations before comprehensive US duties affect 185 countries. Other financial leaders like Jamie Dimon of JPMorgan Chase and Larry Fink of BlackRock have echoed Ackman's concerns, warning of inflation, slowed growth, and potential recession. Amidst this, Ackman has also criticized some of Trump's advisors, though he later retracted personal attacks, expressing frustration over what he perceives as misguided policy.

yahoo
April 9, 2025
Stocks
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