Billionaire hedge fund manager Bill Ackman, the CEO of Pershing Square Capital Management, has publicly criticized President Donald Trump’s sweeping tariff policy, warning of dire economic consequences.
In a series of posts on X (formerly Twitter), Ackman called the current tariff strategy a “global economic war” that risks destroying America’s credibility as a reliable trading partner.
“We are in the process of destroying confidence in our country as a trading partner,” Ackman wrote.
Despite being a Trump supporter during the election, Ackman now warns that Trump is alienating allies and enemies alike by imposing massive, disproportionate tariffs.
Trump’s Tariffs Hit Over 180 Countries, Markets React Harshly
On Wednesday, President Trump signed off on a new universal tariff policy, enforcing a 10% base tariff on all imports. Some countries, including China, have been hit much harder — Beijing now faces a 54% duty, and has retaliated with 34% tariffs on U.S. goods.
This aggressive trade stance has already rattled global markets:
- U.S. equities dropped 9.08% last week, according to FactSet.
- J.P. Morgan increased the likelihood of a global recession to 60%, up from 40%.
Ackman warns that low-income American consumers will suffer the most, calling it a betrayal of the voter base:
“The consequences… are going to be severely negative. This is not what we voted for,” he added.
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Ackman Blasts Commerce Secretary Lutnick Over “Conflict of Interest”
In a separate tweet, Ackman criticized Commerce Secretary Howard Lutnick, claiming a conflict of interest.
“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 suggests Lutnick’s financial interests may clash with the well-being of the U.S. economy.
Meanwhile, Lutnick stated on CBS that the administration will not back down from its reciprocal tariffs, even amid mounting pressure from Wall Street and U.S. trading partners.
Are We Heading Toward a U.S. Economic Nuclear Winter?
Ackman concluded with a dire warning:
“Trump has the opportunity to call a timeout and negotiate. Alternatively, we are heading for a self-induced economic nuclear winter.”
The statement reflects growing concern among Wall Street investors, economists, and global markets.
With rising fears of recession, plummeting investor confidence, and international backlash, the Trump tariff strategy is shaping up to be one of the most controversial economic moves of his presidency.
Final Thoughts
While President Trump defends his trade policy as “strong and fair,” critics like Bill Ackman say it could backfire dramatically, especially for middle- and lower-income Americans.
As pressure mounts, the next few weeks may prove crucial for the future of U.S. economic diplomacy and domestic financial stability.
