Trump changes the melody when his billionaire supporters retire against tariffs

The Hancho Bill Ackman, from the coverage fund, joined a growing list of the multimillionaire sponsors of President Donald Trump who requested that the White House hit the brakes of the tariffs only a few hours before Trump authorized a 90 -day pause on reciprocal rates for most countries that entered into force on Wednesday morning.

ACKMAN went to social networks on Wednesday early, asking Trump to put a 90 -day pause on tariffs, arguing that the president can “achieve their objectives without destroying small companies in the short term.”

In a long publication about X, Ackman, founder of Pershing Square Capital Management, issued a terrible warning of what could happen if the tariffs did not stop immediately.

“If the president does not stop the effect of the rates soon, many small businesses will declare bankruptcy,” Ackman wrote. “Medium -sized companies will be the next.”

ACKMAN joined other billionaires, including some like him who supported Trump’s re -election campaign, converting a cold shoulder into the growing rate war. Trump states that rates are necessary to level the playing field for importers in the United States, saying: “Foreign trade and economic practices have created a national emergency.”

It was not clear immediately if the recoil of his billionaire supporters led Trump to reach a pause.

Other billionaire magnates, including the investor and philanthropist Stanley Druckenmiller, the owner of Citdel, Kenneth Griffin, and even the CEO of Tesla, Elon Musk, the president’s main advisor, have spoken against Trump’s tariffs after supporting the president’s re -election campaign.

Speaking at an event in Miami on Monday night, Griffin described Trump’s tariffs as a “great policy error,” according to The Wall Street Journal. In a rare publication on social networks On Sunday, Druckenmiller wrote: “I do not support tariffs greater than 10%.”

Musk has publicly criticized Trump’s senior commercial advisor, Peter Navarro, one of the architects of Trump’s rates policy, calling him “truly a moron” and “darker than a sack of bricks” after Navarro described him as a “car assembly.” In a live broadcast speech to the Liga League Conference of Italy in Florence, Italy, on Saturday, Musk expressed hope for the United States and Europe to believe “a very close and stronger association” and reach a “zero rate” policy soon.

On Saturday a 10% tariff entered into force for all commercial partners of the United States. Additional reciprocal tariffs against more than 60 countries that place tariffs in US imports entered into force at 12:01 am et on Wednesday. But on Wednesday afternoon, Trump was stopping reciprocal tariffs in most countries approximately 13 hours after they entered into force and eight days after he announced them at a white house conference.

However, the pause would not apply to China because government officials were not willing to reach an agreement, according to Treasury Secretary Scott Besent.

Trump had already raised tariffs on China to 104% after China refused to go back to impose a 34% rate on US assets. On Wednesday, China responded with measurement tariffs on US products to 84%, which led Trump to add additional 21%, which carries the China rate to 125%.

The countries of the European Union supported on Wednesday the proposal of the European Commission to retreat Trump’s tariffs on steel and aluminum with a set of countermeasures.

Ackman spoke against tariffs, saying that he is “receiving an increasing number of emails and text messages from small businesses where I do business or that I have invested, expressing fear that they cannot transmit their greatest costs to their customers and will suffer severely negative consequences.”

In his position on Wednesday, Ackman shared an email from the founder of a Cold Brew coffee business that said he received before the retaliation rates announced by China. The founder of Cold Brew Coffee said that its cost for the glass bottles obtained from China will increase by 50%, while Chai of India will increase by 26%and the coffee imported from Ethiopia, Peru and Canada will rise by 10%.

“My clients will tolerate a nearby duplication of the costs of their contract overnight, or will they expect to absorb the increases that my suppliers are already threatening?” The business owner wrote in the email to Ackman. “If customers resist price increases and my employees demand higher salaries to compensate for their growing cost of living, we end up in a losing-perder scenario, without expenses and without work.”

ACKMAN ended its publication writing: “Previse the colder heads.”

After Trump’s announcement that he was stopping tariffs in most countries, Ackman issued a series of new publications on X, including one that said: “This was brilliantly executed by @realdonald Trump. Texbook, Art of the Deal.”

“The benefit of the @realdonaldTrump approach is that we now understand who our favorite business partners are and who are the problems. China has been shown to be a bad actor,” said ACKMAN in a publication. “Our counterparts also have an idea of ​​what life is like if they do not eliminate their commercial barriers.”

Ackman added: “This is the perfect configuration for commercial negotiations in the next 90 days” and offered a advice for China: “collect the phone and call the president. He is a hard but fair negotiator. The longer China stops and takes reprisals, worse will be the result for China.”