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Billionaire investor and Trump ally Bill Ackman has issued a stark warning, cautioning that the world is on the verge of a “self-induced economic nuclear winter.” In a lengthy post on X (formerly Twitter) on Sunday night, the prominent hedge fund manager urged President Trump to reconsider his sweeping tariff measures before they cause irreversible economic damage.
Bill Ackman Urges a ‘Time-Out’ on Tariffs
“The President has an opportunity on Monday to call a time-out and have the time to execute on fixing an unfair tariff system,” Ackman wrote. “Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down. May cooler heads prevail.”
Ackman acknowledged that the nation broadly supports Trump’s efforts to address what he called an unfair global tariff system but warned that confidence in the U.S. economy is at stake.
“The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But business is a confidence game, and confidence depends on trust,” he wrote. “President [Trump] has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone’s attention. So far, so good.”
Bill Ackman Concerned Over a Global Economic War
While Ackman agreed that some nations have taken advantage of the U.S. by protecting their industries at the expense of American jobs and economic growth, he strongly opposed the administration’s aggressive approach.
“But, 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, as a place to do business, and as a market to invest capital,” he warned.
Ackman proposed a 90-day moratorium on tariff hikes to allow for the renegotiation of what he described as “unfair asymmetric tariff deals.”
The Risks of an ‘Economic Nuclear War’
Ackman painted a grim picture of the potential fallout should the tariff war escalate unchecked. He warned that businesses would be forced to halt operations, while consumer spending would dry up.
“What CEO and what board of directors will be comfortable making large, long-term, economic commitments in our country in the middle of an economic nuclear war?” he asked.
He explained that market instability would have a cascading effect: “When markets crash, new investment stops, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers. And it is not just the big companies that will suffer. Small and medium-sized businesses and entrepreneurs will experience much greater pain. Almost no business can pass through an overnight massive increase in costs to their customers.”
Impact on Low-Income Consumers
Ackman also emphasized that working-class Americans, particularly low-income consumers already facing financial strain, would bear the brunt of the crisis.
“The consequences for our country and the millions of our citizens who have supported the president — in particular, low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for,” he stated.
Trump’s Stance on Tariffs
President Trump has framed the tariffs as a tool to negotiate better trade deals and increase revenue for the U.S. However, he has also hinted that the tariffs could remain in place permanently, fueling fears of a prolonged trade war.
Ackman’s warning coincided with continued volatility in global financial markets on Monday, as investors reacted to Trump’s insistence that foreign governments would need to pay “a lot of money” to remove the tariffs — a move he referred to as “medicine.”
As the debate over trade policy intensifies, Ackman’s plea underscores a growing concern among business leaders: that a full-scale tariff war could shake the foundations of the global economy, with long-term consequences for the U.S. and beyond.
Who is Bill Ackman?
Billionaire investor Bill Ackman is the founder and CEO of Pershing Square Capital Management, a hedge fund overseeing $15 billion in assets.
Ackman established Pershing Square in 2004 and gained prominence for shorting bond insurer MBIA and spearheading the rescue of mall operator General Growth Properties.
His firm’s investment portfolio is highly concentrated, with holdings in just seven companies, including Chipotle, Hilton, and Alphabet, Google’s parent company.
Known for his outspoken nature, Ackman has amassed over a million followers on X. After years of supporting Democrats, he endorsed Donald Trump in the 2024 election.
In 2023, he led a public campaign pressuring Harvard to remove its president, Claudine Gay, over allegations of plagiarism and antisemitism. She resigned in January 2024.
Also Read: ‘Economic Nuclear Winter’: Billionaire Trump Supporter Urges Pause on US Tariffs
