Ackman, Blankfein urge Trump to delay tariffs amid market turmoil

Billionaire investor Bill Ackman has urged President Donald Trump to pause his recently announced trade tariffs, warning they could lead to a 'self-induced, economic nuclear winter.' Ackman, a supporter of Trump, emphasized the need for time to renegotiate trade relationships and expressed concerns that the tariffs might disproportionately affect American consumers and escalate into a trade war. He noted that Trump's tariffs, including a 10% baseline on imports, could push prices higher and harm the economy. Ackman suggested that the president might postpone the tariffs to allow for better deal-making opportunities, reflecting on the urgency of the situation. This sentiment was echoed by JPMorgan Chase chairman Jamie Dimon and former Goldman Sachs CEO Lloyd Blankfein, both advocating for a delay to facilitate negotiations. Overall, the financial community is increasingly concerned about the ramifications of Trump's tariff policies on both the US economy and global markets.