{"id":846289,"date":"2025-05-06T20:12:01","date_gmt":"2025-05-07T01:12:01","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/06\/trump-is-losing-the-confidence-of-business-leaders-billionaire-investor-bill-ackman-says\/"},"modified":"2025-05-06T20:12:01","modified_gmt":"2025-05-07T01:12:01","slug":"trump-is-losing-the-confidence-of-business-leaders-billionaire-investor-bill-ackman-says","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/06\/trump-is-losing-the-confidence-of-business-leaders-billionaire-investor-bill-ackman-says\/","title":{"rendered":"Trump is losing the confidence of business leaders, billionaire investor Bill Ackman says"},"content":{"rendered":"
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Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on Nov. 28, 2023.<\/p>\n

Jeenah Moon | Bloomberg | Getty Images<\/p>\n<\/div>\n

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Billionaire investor Bill Ackman said that America was heading toward a self-inflicted “economic nuclear winter” as a result of U.S. President Donald Trump<\/a>‘s tariff policy rollout.<\/p>\n

“By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner,” Ackman, who had endorsed Trump during the election, wrote on social media platform X.<\/p>\n

Trump’s latest tariffs, signed into effect<\/a> Wednesday, set a 10% baseline levy on all imports, hitting more than 180 countries and hammering global markets.<\/p>\n

China faces the highest tariffs, with the Trump administration having announced 54% in duties since February. Beijing has retaliated with 34% tariffs on all goods imported from the U.S<\/a>.<\/p>\n

U.S. equities capped off a vicious week for investors last Friday, with the S&P 500 down 9.08%, according to data from FactSet, as Trump’s moves stoke fears of a global economic slowdown. JPMorgan last week lifted the odds for a U.S. and global recession to 60%<\/a> by the end of the year, up from 40% previously.<\/p>\n

“Business is a confidence game. The president is losing the confidence of business leaders around the globe,”\u00a0Ackman said.<\/p>\n

“The consequences for our country and the millions of our citizens who have supported the president \u2014 in particular low-income consumers who are already under a huge amount of economic stress \u2014 are going to be severely negative. This is not what we voted for,” the hedge fund manager said.<\/p>\n

Trump has the opportunity to call for a timeout for any negotiations to resolve any “unfair” tariff deals.<\/p>\n

“Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down,” he said.<\/p>\n

In a separate tweet<\/a>, Ackman also took potshots at U.S. Commerce Secretary Howard Lutnick. “He profits when our economy implodes. It’s a bad idea to pick a Secretary of Commerce whose firm is levered long fixed income,” Ackman said, adding that it is an “irreconcilable conflict of interest.”<\/p>\n

On Sunday, Lutnick told CBS that the Trump administration will remain steadfast in its reciprocal tariffs against key trading partners<\/a> even in the face of a global stock rout.<\/p>\n

The U.S. Department of Commerce did not immediately respond to CNBC’s request for comment.<\/p>\n

Correction: China faces the highest tariffs, with the Trump administration having announced 54% in duties since February. An earlier version misstated the month.<\/em> <\/p>\n<\/div>\n<\/div>\n

Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on Nov. 28, 2023. Jeenah Moon | Bloomberg | Getty Images Billionaire investor Bill Ackman said that America was heading toward a self-inflicted “economic nuclear winter” as a result of<\/p>\n","protected":false},"author":1,"featured_media":846290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3002,4],"tags":[6823,5052],"class_list":{"0":"post-846289","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-losing","8":"category-trump","9":"tag-losing","10":"tag-trump"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/846289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=846289"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/846289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/846290"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=846289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=846289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=846289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}