Trump Ally Bill Ackman Calls for 90-Day Pause on US Tariffs as Crypto Sinks
Bill Ackman, a hedge fund manager and supporter of Donald Trump, has urged a 90-day suspension of the recently announced U.S. tariffs, set to escalate on April 9. He warns that without this halt, the U.S. could face an 'economic nuclear winter,' leading to widespread layoffs and reduced business confidence. Trump's new tariffs include a 25% charge on foreign automobiles and a minimum 10% tariff on various imports. Ackman emphasized that this approach could destroy confidence in the U.S. as a trading partner. Following the tariff news, Bitcoin fell to $77,300 and Ethereum to $1,575, with significant declines across the crypto market. Experts suggest that these turbulent conditions could challenge Bitcoin's status as a safe haven, with predictions of further price drops in the coming months. The situation reflects growing uncertainty in both equity and crypto markets, fueled by increasing trade tensions under the Trump administration.
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