Bill Ackman defends Trump tariffs after warning the world was on brink of ‘economic nuclear winter,’ attacking Commerce secretary

New York Post - Apr 8th, 2025
Open on New York Post

Billionaire fund manager Bill Ackman has expressed support for President Trump’s use of tariffs, yet calls for a delay in their implementation. He argues for a 30, 60, or 90-day pause to allow negotiations to proceed without triggering what he describes as a "self-induced economic nuclear winter." Ackman fears that the immediate imposition of harsh tariffs could lead to significant global economic disruptions, affecting vulnerable companies and citizens. Despite his support for Trump's trade approach, Ackman warns that acting without sufficient negotiation time could cause unnecessary damage, as evidenced by the recent market volatility and the negative impact on his investments, such as Nike and Alphabet.

In his social media posts, Ackman also criticized Commerce Secretary Howard Lutnick, suggesting a conflict of interest with Lutnick’s previous role at Cantor Fitzgerald, which profits from bond investments during economic downturns. Ackman later retracted his critique, acknowledging his frustration with the policy direction. His concerns are shared by other hedge fund managers, including Dan Loeb, whose firm has also suffered from the market's reaction to the tariff threats. The broader implications of Ackman's call include heightened awareness of the potential global economic fallout and the critical need for a strategic approach to international trade negotiations.

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RATING

5.2
Moderately Fair
Read with skepticism

The news story presents a timely and relevant discussion on trade tariffs and their potential economic impacts, featuring the perspective of a prominent financial figure, Bill Ackman. While the article is clear and accessible, it lacks a balanced representation of diverse viewpoints and supporting evidence for some of its claims. The reliance on Ackman's statements without corroboration from additional authoritative sources limits the story's credibility and impact. Enhancing the article with more context, background information, and a broader range of perspectives would provide readers with a more comprehensive understanding of the issue and its implications. Overall, the story is informative but would benefit from greater depth and balance to fully engage and inform its audience.

RATING DETAILS

6
Accuracy

The story presents several claims that are partially verifiable. For instance, Bill Ackman's support for President Trump's trade policy is noted, but the story lacks specific evidence of his previous statements or actions that demonstrate this support. The warning of an 'economic nuclear winter' is dramatic but lacks concrete economic data or expert opinions to substantiate the claim. The impact on financial markets, such as the reported decline and recovery of Ackman's fund, is plausible but requires verification through financial reports or market analysis. Additionally, Ackman's criticisms and subsequent reversal regarding Commerce Secretary Howard Lutnick are reported but would benefit from direct quotes or responses from Lutnick himself. Overall, while the article includes some verifiable facts, it also contains areas that need further evidence to confirm their accuracy.

5
Balance

The article primarily presents Bill Ackman's perspective, with limited representation of opposing viewpoints or broader context. While it mentions Dan Loeb's similar criticisms, it does not delve into the broader spectrum of opinions on Trump's tariffs, such as those from economists, policymakers, or other stakeholders. This focus on Ackman's viewpoint could lead to a perception of bias, as the story does not adequately explore the rationale behind the tariffs or provide a balanced view of their potential impacts. The inclusion of more diverse perspectives would enhance the article's balance and provide readers with a more comprehensive understanding of the issue.

7
Clarity

The article is generally clear and straightforward, with a logical flow that guides the reader through Ackman's statements and the reported market reactions. The language used is accessible and avoids overly technical jargon, making it understandable to a general audience. However, the article could benefit from clearer distinctions between Ackman's opinions and factual information, as well as more explicit explanations of complex economic concepts. The inclusion of more detailed background information would also enhance the clarity of the piece by providing readers with a better understanding of the context.

4
Source quality

The story relies heavily on Bill Ackman's statements, primarily sourced from his posts on X (formerly Twitter). While Ackman is a credible figure in finance, the article lacks corroboration from additional authoritative sources, such as economic analysts or government officials, which would strengthen its credibility. The absence of direct quotes from other affected parties or experts diminishes the overall reliability of the information presented. Furthermore, the story does not provide any citations or references to external reports or data, which would enhance the trustworthiness of the claims made.

4
Transparency

The article does not provide sufficient context or background information on the tariffs or the broader economic situation, which impacts the transparency of the reporting. There is a lack of explanation regarding the methodology used to assess the potential economic impact of the tariffs, and the story does not disclose any potential conflicts of interest that might affect Ackman's viewpoints. Additionally, the article does not clarify the basis for some of the claims, such as the specific details of the tariffs or the reasons behind the stock market fluctuations, leaving readers without a clear understanding of the underlying factors.

Sources

  1. https://www.axios.com/2025/04/07/trump-tariffs-wall-street-dimon-ackman-musk