A Donald Trump billionaire donor urged the American president to suspend his recently announced commercial prices, or to risk “an self-induced economic winter”.
In the midst of market disturbances, the head of hedge funds, Bill Ackman, said that the president should take three months to allow countries to renegotiate their trade relations with the United States.
Monday, the warning of Mr. Ackman was taken up by other personalities of Wall Street, with the president of Jpmorgan Chase Jamie Dimon Saying that Trump’s prices have risked raising prices for Americans.
Despite the shock waves, the American president goes ahead, With the White House rushing to label a rumor, it could put new prices on the break as “false news”.
On Monday morning, the rumor that Trump was considering a 90 -day break briefly raised a stock market criss -crossed quickly after being reported on the CNBC financial network.
The White House almost immediately shot the report, showing Trump’s commitment to his new import taxes. The equity prices were largely stabilized later.
The “basic” tariffs of 10% on most of the goods in most countries that Trump announced last week have already entered into force, while the higher “reciprocal” rates that he wishes to impose on “worst delinquents” is expected later this week. Some countries seek to negotiate lower rates with the White House.
The new prices, added to the steep samples of Trump, have already put goods from Canada and Mexico, as well as all automotive imports, worry the business and economic leaders that they will put pressure for American consumers and trigger a world trade war.
The Chief of Blackrock, the largest asset manager in the world, said on Monday that prices would increase prices and possibly inflation, and contribute to an economic slowdown, according to the media.
“Most of the CEOs I speak, say that we are probably in recession at the moment,” said Larry Fink, CEO of the Cabinet, at a meeting of the New York Economic Club.
Goldman Sachs said on Sunday that there was a probability of 45% that the United States entered a recession in the year, after estimating a probability of 35% a week ago, before Trump revealed his price plans during an event called “Day of Liberation”.
Trump says imports on imports will stimulate his country with new jobs and new investments.
He defended them on Sunday, telling journalists in the Air Force that “sometimes you should take medication to repair something”.
In His message on x Ackman recognized Trump’s argument on Sunday, the world’s trade system “disadvantaged” the United States.
But, he wrote, prices that Trump had imposed were “massive and disproportionate” and did not distinguish between American friends and enemies.
Mr. Ackman, the billionaire founder of Pershing Square Hedge Fund Management Company, became a very publicized supporter of Trump, a Republican, in July 2024.
He had previously supported the Rival Democratic Party, and his intervention was considered an important electoral approval of the business world.
The “reciprocal” rates of the Trump administration, which can reach up to 50%, will be taken from certain major manufacturing centers in Asia.
Many countries have promised to react, and China has already retaliated with new own prices on goods imported from the United States. Trump threatened on Monday to put an additional 50% rate on the country’s goods, which would lead to the total taxes he intended to charge more than 100%.
Trump had launched an “economic war against the whole world at the same time” which was likely to break the confidence of investors in the United States, said Ackman.
Ackman said that the US leader now had “the opportunity to call 90 days, negotiate and resolve unjust asymmetrical tariff agreements and induce billions of new investments in our country”.
His post said on Sunday that he thought that the ball was back in Trump’s courtyard – after a previous message on X, which urged the leaders of other countries to “drop the phone” to conclude an agreement with Trump.
While stock markets around the world have continued Their drop on Monday, the chief of the banking giant Jpmorgan Chase offered his own catch, warning of “many uncertainties” around the new prices policy.
In a letter to the shareholders, Mr. Dimon declared that the prices “will probably increase inflation and force a lot to consider a greater probability of recession”.
“The more quickly, this problem is resolved, the better because some of the negative effects increase cumulatively over time and would be difficult to reverse,” he wrote.
Trump officials have minimized the risk of recession. The reference rate of 10% is already in force, the higher rates faced with certain countries which come into force on Wednesday.
Speaking aboard the presidential plane on a return flight to Washington DC on Sunday, Trump himself said that European and Asian countries were dying to conclude an agreement. “
