Bill Ackman "Trump Tariffs, U.S. Self-Inflicted Economic Nuclear Winter"

"U.S. Losing Trust and Causing Pain to American Consumers"

"Criticism of Rutnick, Fund Company Profiting from U.S. Economic Downturn as Conflict of Interest"

Billionaire investor Bill Ackman, who supported Trump during the election, criticized that "President Trump is leading the U.S. into a self-inflicted 'economic nuclear winter' with his tariff policy." He also pointed out that having Howard Rutnick, who runs a fund that profits whenever the U.S. economy worsens, as Secretary of Commerce is a "conflict of interest that cannot coexist."

Billionaire Bill Ackman, founder of hedge fund Pershing Square, stated in a post on his social media platform X late on the 6th U.S. time that "by imposing massive and disproportionate tariffs on both friends and foes, a global economic war is being waged, destroying trust in the U.S."

He emphasized that "seriously negative consequences will befall millions of citizens who supported the U.S. and Trump, and low-income consumers already suffering tremendous economic pain," and that this is not what they voted for Trump for.

He said, "Business is a game of trust," and that Trump is losing the trust of global business leaders.

He pointed out that "President Trump could ask for negotiation time to resolve unfair tariffs," otherwise "the U.S. will head towards a self-inflicted economic nuclear winter."

In a separate tweet, Ackman also criticized U.S. Secretary of Commerce Howard Rutnick. He said Rutnick owns a leveraged long bond fund company that profits whenever the U.S. economy and market collapse. He criticized that having Rutnick, who runs a company structured to profit when the U.S. economy worsens, as Secretary of Commerce is a bad idea and a "conflict of interest that cannot coexist."

The day before, Rutnick said in an interview with CBS that the Trump administration will firmly maintain mutual tariffs despite global stock market crashes.

The mutual tariffs that President Trump will implement from this Wednesday are affecting over 180 countries worldwide and hitting global markets.

China faces the highest tariff at 34%, up from the previous 20%, and the Chinese government also announced a retaliatory tariff of 34% on all U.S. imports.

Guest reporter Jung-A Kim kja@hankyung.com