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Bill Akman, CEO of Pershing Square Capital Management, performs during an interview for the episode “David Rubenstein Show: Talks about peers” in New York on November 28, 2023.
Jeenah Moon | Bloomberg | Gets the image
Millionaire Investor Bill Akman said America was heading to the “economic nuclear winter” as a result of deploying US President Donald Trump’s tariff policy.
“Having placed massive and disproportionate tariffs on our friends and our enemies and thus launching a global economic war against the world, we are immediately in the process of destroying our country’s confidence as a trading partner,” Akman who supported Trump during the elections, Social Media X.
Latest Trump tariffs, signed by virtue On Wednesday, 10% of the basic collection was installed on all imports, reaching more than 180 countries and killing world markets.
China is facing the highest tariffs, and the Trump administration has introduced 54%since January. Beijing avenged With 34% tariffs to all goods imported from the US.
Last Friday in the United States, US shares reduced an angry week for investors, reduced by 9.08%, according to FactSet, since Trump’s steps are a score of global economic slowing. JP Morgan raised the chances for the US and the global recession up to 60% By the end of the year compared to 40% earlier.
“Business is a trusted game. The president loses the confidence of business leaders around the world,” Akman said.
“The consequences for our country and millions of our citizens who have supported the president-in privacy of low income consumers, which are already under great economic stress, are very negative. This is not what we voted for,” said the head of hedge funds.
Trump has the opportunity to call for a timus for any negotiations to resolve any “unfair” tariff transactions.
“Alternatively, we head to self-esteem, economic nuclear winter, and we must start descending,” he said.
In a separate tweetAkman also took the pots from the US Commerce Secretary Howard Lutnik. “It makes a profit when our economy disposes. This is a bad idea to choose a trading secretary whose firm is used with a long fixed income,” Akman said, adding that it is “an inappropriate conflict of interest”.
Sunday Lutnut said CBS that Trump administration will remain unwavering in its mutual tariffs against key trading partners Even in the conditions of global stock.
The US Department of Commerce did not immediately respond to the CNBC request for a comment.
