Billionaire hedge fund manager Bill Ackman, who previously saw Trump’s sweeping tariffs as a roadblock to investments in the US and even suggested firing his trade advisor, has now welcomed the US President’s move. His change of heart comes after Trump imposed a 90-day pause on most tariffs, excluding China, to allow room for negotiations, a strategy Ackman had previously advocated. China is now facing a 125% tariff, which Trump justified by citing the country’s “lack of respect for global markets”.

Ackman, while hailing President Trump’s move, said that the country now better understands “who our preferred trading partners are and who the problems are”, pointing to China as a “bad actor”.

He even suggested that China pick up the phone call and dial Washington, as he warned that the “longer it holds out and retaliates, the worse the outcome”. 

Russian chess grandmaster Garry Kasparov reacted critically to his post, claiming that “Trump has no real plan” and no matter how much damage he causes, some people will always find a way to praise him. “The benefit of Donald Trump’s approach is that we now understand who are sycophants who will find a way to praise him no matter what, no matter how clear it is he has no real plan, and no matter how much damage and chaos he creates for Americans and the world,” he wrote on Twitter (now X).

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Ackman, who has a net worth of $880 crores, replied to him and wrote that he was among the first and loudest critics of Trump’s sweeping reciprocal tariffs, but its results speak for themselves as “China is now isolated” and that other “trading partners are queuing for negotiations” as global markets tumble.

“China is now isolated, and our other trading partners are lining up to make deals. They have all, albeit briefly, viscerally experienced the impact on their markets and countries of the tariffs taking effect. And that is highly motivational for them and their citizenry,” he responded to Kasparov. 

He went on to say that after China was excluded from the pause period, they expressed willingness to negotiate tariffs. The 58-year-old further said, “Time is not China’s friend as every US corporation with a supply chain based in China is seeking to move it to countries that are likely to make favorable tariff deals with the US, and they are also seeking US suppliers, bringing jobs and profits home.”

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Ackman also said that people who don’t support Trump wanted to see him “fail”, but his policies are “good for America”. 

Addressing Kasparov’s “sycophant” remark, Ackman argued that crediting Trump for successful outcomes shouldn’t be dismissed as blind loyalty. “If you are accusing me of being a sycophant for congratulating him on his success, it simply reflects your desire to attempt to discredit those who support our president. There is nothing sycophantic about giving praise to our president for outcomes that he has achieved that are good for America.”

He noted that Trump’s critics often accuse him of ignoring his advisors, but he did listen to Secretary of the Treasury Scott Bessent’s “sensible advice” this time. 

Ackman, who is the CEO of Pershing Square, earlier reposted a White House post reiterating the administration’s message: “Do not retaliate and you will be rewarded.” 

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“Based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorised a 90-day pause, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote on Truth Social.