Washington:
US President Donald Trump’s tariff Kadam has a rare pushback from Bill Ekman, a billionaire investor among his top supporters. They have listed the dangers of tariffs, the most important of which is a blow to American reputation as a trading partner. Ackman also claimed that the formula used by the Trump administration to calculate the tariff was wrong, and the tariffs appeared four times larger than them.
“President Donald Trump is not an economist and is therefore dependent on his advisors to perform these calculations so that he can determine the policy. The global economy is being taken down due to poor mathematics,” he wrote on X.
He said that business is a belief game and it depends on the belief, suggesting that Trump violated that belief.
He said, “The President is losing the trust of business leaders around the world. The results for our country and our millions of citizens who have supported the President are going to be seriously negative. It is not what we have voted,” he said.
Ekman admitted that the US was suffering from unfair trade practices, but said that inconsistent tariffs had threatened to destroy the trust of business that was in the US of others.
He wrote in a long post on X, “Large -scale and inconsistent tariffs on our friends and our enemies have been equally placed and thus a global economic war has been launched against the whole world at once, we are as a place to trade, and as a market to invest capital as a business partner in our country.”
‘Economic Atomic Winter’
Calling the tariff policy a “Economic Nuclear War”, he said that this trade would stop investment, shut down their purse to consumers, and damage the US’s reputation – which may take decades to rebuild.
“When the market crashes, the new investment stops, stops spending money to consumers, and businesses have no option but to invest and fire fighting employees,” they warned, indicating that not only big people, but also small businesses will be hits.
The US “is the title for an economic nuclear winter,” Ekman warned, advising Trump, “We should start hacking down”.
Jamie Dimon, Chief Executive Officer of JP Morgan Chase & Company, also warned of inflation, which could lead to a slowdown. In his annual letter to shareholders, he reduced the lack of trade deals between the US and its closest colleagues and suggested that the US was asking them to align themselves with the US rather than developing close trade relations with countries like India.
The warning shots were also heard from the staunch loyalty senator Ted Cruise, as well as pointing at a rebel drinking at the Republican camp. “If we go into a recession, especially a bad recession, 2026, politically all possibilities would have a bloodbase,” he warned on his decision podcast.
Trump’s conservationist policies criticized a day, which deteriorates the frenzy sold on the trading floor worldwide, damaging trillions as the President announced tariffs on mutual, yet concessional, world. However, he hit a disregard note on Monday, equalized the tariff to a “medicine”, which was necessary to fix the economy.