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GOP megadonor Ken Langone is latest billionaire to blast Trump's tariffs
- President Trump imposed a 10% tariff on most goods from dozens of major trading partners starting Saturday, with higher tariffs planned for Wednesday.
- Trump stated the tariffs aim to correct longstanding trade imbalances but faced recent criticism from billionaires and executives over potential economic risks.
- Among critics, Bill Ackman likened the tariffs to an economic nuclear war, while Jamie Dimon warned they could increase inflation and weaken U.S. Global standing.
- Ackman urged a 90-day pause to negotiate unfair tariff asymmetries, stating business investment would halt and consumers would curb spending if tariffs proceed.
- The tariffs have unsettled global markets, causing plunges in Asian and European stocks and raising uncertainties about economic growth and investment decisions.
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elDiarioARU.S. Billionaires and Directors Revolt Against Trump · Global Voices
Many of the big investors so far had kept their complaints behind closed doors. Trump dismisses the fall of the markets as a bad passenger and draws it as collateral damage to achieve their economic goals.Elon Musk failed in his attempts to convince Trump to avoid the escalation of global tariffs, according to 'The Washington Post' The free drop of stock indexes has pushed billionaire investors to do something they had been avoiding so far: open…
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