American billionaire and head of the Pershing Square investment fund Bill Ackman has urged Donald Trump to postpone the introduction of tariffs on US imports for 90 days in order to resolve differences with the world "more gently", as the harshness of the measures taken undermines "the trust of business leaders around the world".
According to him, such a freeze on the decision would allow "to resolve unfair asymmetric tariff agreements, as well as attract trillions of dollars of new investment" to the US economy. Ackman warned that if Trump doesn't come to his senses, the US will face a "nuclear economic winter." After the president's decision, which rocked markets around the world, customs officials have already begun to impose "major" a 10% tariff on imports, with higher individual tariffs of up to 50% set to take effect in the coming days.
Trump has yet to show any willingness to make what he sees as premature compromises on tariffs, as he believes China and many other countries have treated the United States “unacceptably badly”.
Bloomberg columnist Javier Blass previously argued that a decision to impose huge tariffs on products not produced by Americans would lead the United States to a record food trade deficit, resulting in higher prices and problems for local farmers, who would need billions in support.