**Trump's Tariffs Face Backlash: Billionaire Investor Warns of Economic Fallout**

In a stark warning, Ackman urges for a temporary hold on tariffs to renegotiate trade agreements, amidst growing concerns from financial leaders over inflation and recession risks.

Billionaire hedge fund manager Bill Ackman has issued a stark warning to President Donald Trump regarding his recently announced trade tariffs, suggesting that failure to reconsider these measures may lead to a "self-induced economic nuclear winter." Ackman, who has recently aligned himself with Trump going into the 2024 presidential election, urged the president to implement a three-month pause on the tariffs to allow for renegotiation of trade agreements with other nations.

The hedge fund titan's warning resonates amidst an atmosphere of market instability, significantly affecting stock prices across Europe and Asia which are witnessing severe declines in response to Trump's sweeping tariff policies. Jamie Dimon, the chairman of JPMorgan Chase, echoed Ackman's concerns, indicating that the tariffs could lead to rising prices for American consumers. Despite the turmoil, Trump defended his tariffs, stating, "Sometimes you have to take medicine to fix something," asserting that these measures would promote job growth and investment in the United States.

Ackman's social media post highlighted his acknowledgment of Trump's claims that the global trade system has historically disadvantaged the US, but cautioned against the "massive and disproportionate" nature of the tariffs which fail to differentiate between allies and adversaries. Ackman, a former supporter of the Democratic Party, has emerged as a significant voice for the business community in support of Trump, advising the president that a strategic "90-day time out" could allow for negotiation opportunities that lead to substantial foreign investments.

As worry mounts over the economic ramifications of Trump's policies, Dimon also indicated in a letter to shareholders that the tariffs might exacerbate inflation and increase the potential for recession. He emphasized the urgency in resolving these tariff issues to prevent cumulative negative effects on the economy. Trump, during a flight back to Washington, maintained a positive outlook, claiming that foreign nations are eager to negotiate advantageous deals.

The baseline 10% tariffs are already active, with increased rates of up to 50% on various countries anticipated to take effect shortly. Economic experts, however, remain wary of the recession risks associated with such aggressive trade actions, despite reassurances from the Trump administration that the economy is on sound footing.