Billionaire investor Bill Ackman urged President Trump to delay a new tariff policy set for implementation, warning it could lead to an economic catastrophe. Ackman called for a 90-day pause to allow for negotiations, emphasizing that business confidence is vulnerable and could be further eroded by the tariffs. He acknowledged Trump's intent to reform perceived inequities in global trade but stressed that hasty moves could freeze investments, dampen consumer sentiment, and severely impact small businesses. Ackman fears that the U.S. risks losing its status as a trustworthy trade partner in the global landscape.
A delay of 90 days to negotiate could prevent a global loss of confidence in the US economy, which Bill Ackman sees as crucial.
Ackman worries that moving forward with the tariffs could trigger a market crash and halt consumer spending, particularly affecting small and mid-sized businesses.
Despite supporting Trump's aim to fix the global tariff system, Ackman expresses concern over the immediate economic implications of imposing such tariffs.
Ackman emphasizes that maintaining business confidence is essential, warning that the tariffs could lead to significant economic repercussions and a loss of reputation.
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