Hedge fund billionaire Bill Ackman has called on US President Donald Trump to avoid initiating an "economic nuclear war" with the high tariffs he is considering imposing globally.
Ackman stated that tariffs resulting from trade disputes could negatively affect investor confidence worldwide, reduce consumer spending, and leave lasting impacts on America’s global reputation.
He emphasized that Trump should be given an opportunity to correct the unfair nature of the tariffs, warning that otherwise, the global economy could face significant harm.
Trump's decision to raise tariffs on 180 countries has caused significant turmoil in global markets. This move has notably led to a decline in the value of digital assets, including Bitcoin, which fell below the $79,000 mark, alarming investors.
Analysts suggest that the tariffs have reduced interest in digital assets, with investors seeking safer havens. As tariffs on China were increased, the uncertainty in global markets further contributed to a larger downturn in cryptocurrencies.
