The ‘Big Money Show’ panel discusses President Donald Trump’s threat to impose an additional 50% fee in China.
Billionaire Bill Ackman’s investor again turned his attack on Trade Secretary Howard Lutnick on Monday in a post on social media, after previously arguing that the secretary of trade profits if the economy implies constant reactions to President Donald Trump’s tariffs.
“It was unfair to me to take off on @howardlutnick. I don’t think he is following his interest. I am sure he is doing the best he can for the country while representing the president as secretary of trade. It is not an easy job and we do not know how the sauce was done,” Ackman wrote in X, responding to a previous post. when it means the economy. “
The shares continued to be unstable on Monday as the investor’s reaction to Trump’s tariffs continued to spread to global markets. Trump threatened China with additional fees 50% on Monday morning if Beijing “does not attract” 34% tariffs it announced against the US last week.
“I am simply frustrated by seeing what I believe is a big mistake of politics, as our country and the president have made great economic progress that is now in danger because of tariffs,” Ackman continued. “I would like to try wrong and look at this approach to tariffs and/or their solution to be extremely useful for our country and the global economy.”
Bill Ackman, Chief Executive Officer and Portfolio Manager in Pershing Square Capital Management, speaks during the Las Vegas, Nevada conference in 2017. (Reuters / Richard Brian / Reuters)
Investor billionaire warns world leaders not to keep Trump waiting if they want a tariff deal
Ackman said on Sunday, “a bad idea to choose a secretary of trade whose firm has been given long fixed income. It is an unconscious conflict of interest.” Ackman noted that Lutnick worked for Cantor Fitzgerald.
“It’s a bad idea to choose a secretary of trade, whose firm has been fueled by long fixed income. It is an unconscious conflict of interest,” Ackman wrote.
In a long X post on Sunday, the founder of the billionaire management of the Square Protection Fund management argued that the US is 100% behind the president to arrange a global tariff system that has a disadvantage of the country “, but stressed that business” is a game of trust and trust depending on trust “.
Ackman, who supported the Republican presidential candidate in July 2024 after previously supported the Democratic Party, admitted that Trump “has set up the issue of tariffs On the most important geopolitical issue in the world, and it has attracted everyone’s attention. ”
Bill Ackman turned back into an attack against the Howard Lutnick Secretary of Trade on Monday. (Left: (Photo by Jared Siskin/Patrick McMullan through Getty Images), Right: Photograph: Gripa/Abaca/Bloomberg through Getty Images/Getty Images)
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“This is not what we voted for,” Ackman said. “The president has an opportunity on Monday to call out of time out and have the time to execute in arranging an unfair tariff system. Otherwise, we are heading towards a self-induced economic nuclear winter, and we must start hunting down. Cold heads may prevail.”
Lutnick was printed by CBS Margaret Brennan on Sunday about the tariff announcement, during which he defended Trump’s policies.
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Fox News’ Danielle Wallace contributed to this report.
