Ackman urges tariff freeze as crypto markets tumble

Trump’s 25% tariff plan triggers sharp criticism from ally Bill Ackman, who fears mass layoffs and eroding business confidence.

Bill Ackman warns of an 'economic nuclear winter' as Trump’s sweeping tariffs rattle investor confidence and send crypto prices into freefall.

Prominent hedge fund manager Bill Ackman has called for a 90-day pause on upcoming US tariffs. He warned that the current policy direction could spark an ‘economic nuclear winter’.

A strong supporter of Donald Trump, Ackman expressed deep concern over the sweeping tariff measures announced last week. These include a 25% levy on all foreign-made vehicles and a 10% minimum import tariff.

Ackman cautioned that such drastic steps risk eroding global business confidence, halting investment, and causing mass layoffs. He called the administration’s approach simplistic and harmful.

Treating allies and adversaries alike, he said, damages the US’s reputation as a trading partner.

Markets have responded swiftly, with Bitcoin falling 7.6% to $77,300, wiping out around $70 billion in value. Ethereum dropped even further, losing 14% in a single day.

Analysts warn that if sentiment continues to slide, Bitcoin could fall as low as $52,000 by summer. Ethereum may face a more significant downside due to broader structural challenges.

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