Wall Street Giants Sound Warning Bell On Trump’s Trade War

Major Wall Street figures are expressing concern over the economic impacts of President Donald Trump’s massive tariffs on foreign countries.

Billionaire hedge fund investor and Trump ally Bill Ackman posted on X Sunday that the president’s new reciprocal tariffs on foreign countries were “massive and disproportionate” and claimed they do not distinguish between the U.S.’ friends and enemies. Ackman’s comments follow the president’s “Liberation Day” announcement April 2, enacting sweeping tariffs on a variety of foreign countries.

“President has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone’s attention,” Ackman wrote. “So far, so good. And yes, other nations have taken advantage of the U.S. by protecting their home industries at the expense of millions of our jobs and economic growth in our country.”

The billionaire hedge fund manager warned that by “placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once,” the U.S. is “in the process of destroying confidence in our country as a trading partner.”

Ackman wrote further that Trump “has an opportunity to call a 90-day time out, negotiate and resolve unfair asymmetric tariff deals, and induce trillions of dollars of new investment in our country.”

“To state the obvious, it does not help our country’s and our president’s negotiating position to be trying to strike deals while our market is collapsing,” Ackman wrote Sunday in a social media post. “Whoever is recommending that idea to President should be fired now.”