Wealthy business leaders are turning on US President Donald Trump over his plan to impose a colossal set of tariffs on America\u2019s trading partners, as losses mount on stock markets around the world.<\/p>\n
According to a CNN report, Billionaire investor Bill Ackman, who endorsed Trump\u2019s 2024 presidential bid, warned Sunday that going ahead with the new tariffs was tantamount to launching an \u201ceconomic nuclear war.\u201d<\/p>\n
On Wednesday, Trump said he would impose significantly higher \u201creciprocal\u201d tariffs on dozens of countries that have the highest trade imbalances with the United States.<\/p>\n
In a post on X, Ackman said \u201cbusiness investment will grind to a halt, (and) consumers will close their wallets\u201d if the new levies do indeed come into force. \u201cWe will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,\u201d he added in the post, which was viewed 10.6 million times.<\/p>\n
Unless Trump changes tack, \u201cwe are heading for a self-induced, economic nuclear winter, and we should start hunkering down,\u201d the CEO of Pershing Square Capital Management warned.<\/p>\n
\u201cWhat CEO and what board of directors will be comfortable making large, long-term economic commitments in our country in the middle of an economic nuclear war?\u201d he said, adding that \u201cthe president is losing the confidence of business leaders around the globe.\u201d\u09ac\u09bf\u09b8\u09cd\u09a4\u09be\u09b0\u09bf\u09a4<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Wealthy business leaders are turning on US President Donald Trump over his plan to impose a colossal set of tariffs on America\u2019s trading partners, as losses mount on stock markets around the world. According to a CNN report, Billionaire investor Bill Ackman, who endorsed Trump\u2019s 2024 presidential bid, warned Sunday that going ahead with the […]<\/p>\n","protected":false},"author":1,"featured_media":59214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,14],"tags":[],"class_list":["post-59213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-4","category-14"],"_links":{"self":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/59213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59213"}],"version-history":[{"count":1,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/59213\/revisions"}],"predecessor-version":[{"id":59215,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/59213\/revisions\/59215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/media\/59214"}],"wp:attachment":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}