Billionaire Bill Ackman Warns Trump’s Tariffs Could Crash the Economy – BBC Reports
Billionaire businessman and hedge fund manager Bill Ackman, who switched his support to Donald Trump before the 2024 U.S. presidential election, is now warning that Trump’s new trade tariffs could cause serious harm to the economy. According to a detailed report by the BBC, Ackman said the U.S. might face an “economic nuclear winter” if the president doesn’t pause these tariffs immediately.
The BBC explained that tariffs are extra taxes added to imported goods. Trump has introduced a 10% basic tariff on all imports into the U.S., with even higher charges—up to 50%—for some countries, especially in Asia. Trump believes this plan will bring more jobs and investments to the U.S., but BBC says many experts, including Ackman, think the opposite may happen.
Ackman, who runs Pershing Square, used to support the Democratic Party. But in July 2024, he publicly backed Trump. Now, however, he’s urging the president to take a 90-day break from tariffs and give countries time to renegotiate fair trade deals with the U.S. In his post on X (formerly Twitter), he said Trump’s tariff move was too big and didn’t clearly separate between friendly nations and competitors.
From a fresh angle, this is not just about politics—it’s about everyday people. As BBC explains, if prices go up because of these tariffs, regular Americans will be the ones feeling the pinch at the grocery store, on bills, and even at the gas station. While Trump argues that “sometimes you have to take medicine to fix something,” BBC reports that many business leaders are warning that the “medicine” might come with painful side effects.
Jamie Dimon, the boss of JPMorgan Chase, also gave a warning. In a letter to shareholders, he said Trump’s plan could make prices rise (inflation) and possibly lead to a recession—which means the economy slows down and people might lose jobs. Dimon added that the longer this issue goes unresolved, the worse the damage could get.
Meanwhile, the BBC noted that stock markets across Europe and Asia have already started to fall badly, showing that global investors are losing confidence. China has already hit back with tariffs of its own, and more countries may soon follow. Ackman said it looks like Trump is fighting an economic war with the entire world at once, which could scare away new investments.
Despite all the warnings, BBC reports that Trump is standing firm. While flying back to Washington DC, he told reporters that many countries are eager to make a deal with the U.S.
Unique Perspective:
This whole situation shows how even Trump’s own supporters in the business world are starting to worry. The BBC’s coverage reminds us that major decisions like this affect not just big corporations, but everyday families and small businesses. With prices likely to go up and job security at risk, it’s a crucial moment for the U.S. and the global economy.
If Trump listens to people like Ackman, there might still be time to rethink the plan and avoid serious damage. But if not, as BBC warns through various expert voices, Americans could be walking straight into a financial storm.
Credit: BBC News
https://www.bbc.com/news/articles/c2lzjnj79rdo