Bill Ackman defends Trump tariffs after warning the world was on brink of economic nuclear winter, attacking Commerce secretary

Billionaire fund manager Bill Ackman reaffirmed his support for President Trump’s trade policy, saying some had “misinterpreted” his call for a 90-day pause on reciprocal tariffs as a criticism of the administration.The Pershing Square Capital Management boss had warned on Sunday that the world is on the brink of “self-induced economic nuclear winter” if the harsher tariffs slated to kick in tomorrow are not delayed.“Some have misinterpreted my thoughts on tariffs,” Ackman wrote Tuesday on X, adding that he is “totally supportive” of President Trump’s use of tariffs.“I am advocating for a 30, 60, or 90- day pause before the tariffs are implemented tomorrow to enable negotiations to be completed without a major global economic disruption that will harm the most vulnerable companies and citizens of our country,” Ackman added.If nations don’t step up to the negotiating table, then Trump “can bring the hammer down, but doing so without giving time to make deals creates unnecessary harm,” he continued.Trump’s “Liberation Day” levies have spooked investors and sent markets across the world reeling.Shares in Ackman’s main fund plunged about 3.5% on Monday.

The stock bounced back by nearly 3% on Tuesday as markets rallied on hopes that the administration would begin to cut deals.Pershing Square declined to comment.In his long post on X on Sunday, Ackman wrote: “If…on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” Ackman Ackman, who voted for Trump in the election, added that he has “a lot of respect for our president,” but does not believe Trump is infallible and that it would be a mistake to move forward with the taxes on Wednesday.Many of Ackman’s largest investments, like...