Billionaires Criticize Trump’s Tariffs as Economic ‘Nuclear War’
Leading billionaires, including Bill Ackman and Warren Buffett, have openly criticized former President Donald Trump's proposed tariffs, describing them as an 'economic nuclear war' that could severely impact the U.S. economy. In a series of public statements and interviews, these financial titans expressed concerns over the potential for increased costs and retaliatory measures from trading partners, which could lead to a global economic downturn.
Bill Ackman, a prominent hedge fund manager, warned that the tariffs could disrupt global trade flows and lead to significant job losses in industries reliant on international trade. Similarly, Warren Buffett, known for his economic foresight, suggested that such policies could undo years of economic progress and stability.
The criticism comes at a time when Trump has been vocal about reinstating tariffs if he were to return to office, a move that has sparked debate among economists and policymakers. Wall Street has also voiced concerns, with several analysts predicting a negative impact on stock markets and investor confidence if the tariffs were to be implemented.
Detailed
Related issues news
What is Trump's trade war?
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. President Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft ...
Can tariffs cause a recession?
Trump tariffs risk higher prices and make US recession more likely, says JP Morgan boss. The JP Morgan chief executive, Jamie Dimon, has warned that it may be “hard to reverse” the effect of Donald Trump's tariffs, which he said would drive prices higher and make a US recession more likely.
What is anti-Trump?
The Never Trump movement (also called the #nevertrump, Stop Trump, anti-Trump, or Dump Trump movement) is a conservative political movement that opposes Trumpism and U.S. president Donald Trump, and in general supports a return to a more rules-based internationalist, norm-following, ideologically conservative-oriented ...
Latest
Can you Like
