Tag #Billionaire Backlash

What immediate impact did the pressure from billionaire investors have on President Trump's tariff policy?

Billionaire investors, including Bill Ackman, publicly urged President Trump to halt escalating tariffs, warning of severe consequences for small and medium-sized businesses. Hours later, Trump announced a 90-day pause on reciprocal tariffs for most countries, excluding China, which continues to face higher tariffs due to ongoing trade disputes. This pause follows a 10% tariff increase on all U.S. trading partners and additional reciprocal tariffs on over 60 countries.