Billionaire warn trump Against economic nuclear war

billionaire backer of Donald Trump has urged the US president to pause his recently announced trade tariffs, or risk "a self-induced, economic nuclear winter".

Amid market turmoil, hedge fund manager Bill Ackman said the president should take three months to allow countries to renegotiate their trading relationships with the US.

On Monday, Mr Ackman's warning was echoed by another prominent Wall Street figure, with JPMorgan Chase chairman Jamie Dimon saying that Trump's tariffs risked pushing up prices for Americans.

Despite the shockwaves, the American president has defended his new import taxes, saying "sometimes you have to take medicine to fix something".