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Bill Akman, CEO of PersHing Square Capital Management, spoke during an interview with the episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on November 28, 2023.
Jeenah Moon | Bloomberg | Ghetto images
The billionaire investor Bill Akman said America is heading for a self -inflicted “economic nuclear winter” as a result of the deployment of US President Donald Trump’s tariff policy.
“By placing massive and disproportionate tariffs for our friends and our enemies, and thus we began a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner,” Akman, who had approved Trump during the elections, wrote on the social media platform X.
Trump’s last tariffs, signed in force Wednesday, put a 10% base tax on all imports, hitting over 180 countries and knocking global markets.
China is facing the highest tariffs, with the Trump administration imposed 54% in duties since January. Beijing avenged with 34% tariffs for all goods imported from the USS
US stocks limit the vicious week for investors last Friday, which is 9.08%, according to FacetSet data, as Trump’s movements fear globally economic delay. JP Morgan raised the chances of the US and the global recession to 60% By the end of the year, compared to 40% before.
“Business is a game of trust. The president is losing the confidence of business leaders around the world,” Akman said.
“The consequences for our country and the millions of our citizens, who have supported the president-specialists with low-income consumers, which are already under enormous economic stress, will be very negative. This is not what we voted for,” said Hede Funds manager.
Trump has the opportunity to call a time -butt for any negotiations to resolve any “unjust” tariff transactions.
“Alternatively, we are focusing on a self -contained, economic nuclear winter and we have to start descending,” he said.
In a separate tweetAkman also took Potshots from US Secretary of Commerce Howard Luni. “He wins when our economy implants. It is a bad idea to choose a trade secretary whose company is used with a long fixed income,” Akman said, adding that this is an “irrelevant conflict of interest”.
On Sunday Luni told CBS that the Trump administration will remain unwavering in its reciprocal tariffs against key trading partners Even in front of a global stock route.
The US Department of Commerce did not immediately respond to CNBC’s request for comment.
