Billionaire Bill Ackman delivers frank 3-word message on tariff war

Global markets declined after China imposed a 34% tariff on American goods in retaliation to tariffs imposed by President Trump, leading to a 5% drop in the S&P 500 and Nasdaq Composite. The move raised concerns of a prolonged trade war that could impact supply chains and push the U.S. economy towards a recession, prompting billionaire investor Bill Ackman to urge world leaders to negotiate with Trump. Trump’s talks with Vietnam about reducing tariffs to zero led to a 4% rally in Nike stock, a major holding in Ackman’s portfolio. Ackman also advised on negotiation strategies in dealing with tariffs.

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