Billionaire hedge fund investor Bill Ackman, who endorsed President Trump last year, is offering a stark warning about the risks of the White House’s tariff plans, arguing they could cause the economy to collapse while hurting Trump supporters 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.

Ackman began a lengthy post on the social platform X by praising Trump’s strategy, arguing the nation is “100%” behind Trump on fixing a trading system that disadvantages the country.

But while Trump has elevated the issue and gotten........

© The Hill