Billionaire investor Bill Ackman, who backed President Trump last year, has issued a blunt critique of the administration’s aggressive new tariff agenda, cautioning that the plan could push the economy into a downward spiral — with Trump’s own voter base suffering the most.
“Business is a confidence game. The president is losing the confidence of business leaders around the globe. The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative,” he wrote.
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