Trump’s billionaire supporter Bill Ackman requires 90-day pause on tariffs to keep away from ‘economic nuclear war’: Live

The Tesla and X boss has continued to take jabs at Trump officials defending the president’s new tariffs, appearing to want to distance himself from the controversial policy that has been roiling world markets.

The president’s tariffs have tanked global markets and the ultra-wealthy like Musk have already been feeling the blow.

According to a CNBC analysis, Musk has lost just over $30bn since Trump announced his trade war last week.

That loss and continuing volatility may explain why the billionaire has been taking pot shots at Trump officials like Howard Lutnick and economic adviser Peter Navarro.

Trump was asked yesterday about Musk speaking out of turn yesterday but managed to avoid taking his special adviser to task, despite dismissing what he had said.

Here’s Graig Graziosi with more.

We’re covering all things Trump right here, but if you’d like dedicated coverage of the market reaction to the tariff uncertainty, you can get live updates on that with Karl Matchett and Tara Cobham below.

U.S. stock futures dropped again on Sunday evening after the markets suffered a bloodbath during the week following the president’s tariffs announcement.

Dow Jones Industrial Average futures were down 4.1 percent, or 1,531 points, late last night, while S&P 500 futures dropped 4.6 percent and Nasdaq 100 futures fell 5.3 percent.

In early trading in Japan, the Nikkei 225 dropped nearly 8 percent.

As the news emerged, Trump put out a statement on his social media platform insisting that he would follow through on his policies, despite them roiling the markets and threatening to disrupt the global financial order.

It read as follows:

He also dug in his heels on Air Force One yesterday as he returned to Washington from yet another weekend golfing in the Florida sunshine:

His Rhian Lubin on the latest alarming slump.

Good morning!

Donald Trump’s billionaire supporter Bill Ackman, a prominent hedge fund manager, has called on the president to suspend his sweeping new tariffs on America’s foreign trading partners, due to come into effect on Wednesday, warning the policy could lead to “economic nuclear war.”

Writing on X, Ackman pleaded with Trump to impose a 90-day delay to allow more time for negotiations and said: “Business is a confidence game. The president is losing the confidence of business leaders around the globe.”

He continued: “By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital.”

Here’s Ackman’s post in full:

It’s worth adding that the financier was not always so critical of the president, expressing his confidence in Trump and Commerce Secretary Howard Lutnick as recently as December:

Attorney General Pam Bondi said in an interview this Sunday on Fox News that President Donald Trump is “probably finished” as commander-in-chief after his current term ends.

Bondi was speaking on Fox News Sunday with Shannon Bream when she was asked about Trump’s various remarks surrounding a third term in office.

“I wish we could have him for 20 years as our president, but I think he’s gonna be finished probably after this term.”

When questioned on her use of the word “probably,” Bondi replied: “We’d have to look at the constitution.”

Bondi picked up on Bream’s use of the phrase “heavy lift” when describing what actions would need to be taken in order to remain in office past 2028.

“There are methods which you can use,” Trump insisted on NBC News in a telephone interview last Sunday.

Read the full story.

Millions flocked to the streets across the country in protest of President Donald Trump’s administration’s cuts to health program funding, mass firings of federal workers and steps toward shuttering entire agencies.

“Hands Off” protests, organized by nearly 200 advocacy groups, cropped up in more than 1,000 locations across the U.S. and around the globe Saturday in what became the largest day of collective action since Trump was inaugurated for a second time.

The protests aimed to put a stop to the “most brazen power grab in modern history,” organizers said. Millions — from Los Angeles to London — marched to advocate for civil rights, healthcare, democracy, workers’ rights and LGBTQ+ rights that have been under “assault” by the Trump administration and GOP Congress members, they added.

The Elon Musk-led Department of Government Efficiency has taken a chainsaw to the federal government, haphazardly firing thousands of federal workers, cutting humanitarian aid programs, and planning to shutter federal office buildings.

The Trump administration is drowning in court battles as it swiftly moves to deport a host of immigrants, implement sweeping tariffs, and attempts to ban transgender Americans from serving in the U.S. military.

Read the full story.

Another child has died from measles in Texas. President Donald Trump’s Health and Human Services Secretary Robert F Kennedy Jr is reportedly is planning a trip to Texas after learning of the second death. Kennedy is reportedly planning to attend the child’s funeral, according to The Guardian.

An 8-year-old girl died early on Thursday morning from “measles pulmonary failure” while she was being treated at a hospital in Lubbock, Texas, according to the New York Times.

Her death is the second tied to a measles outbreak in West Texas and the second tied to the disease in the U.S. in a decade. Dozens of residents in the region — including in bordering states — have been infected.

The UMC Health System said on Sunday that the girl had not been vaccinated against the disease and had no underlying health conditions that contributed to her death.

The first death in the region was also an unvaccinated child who died in February. There may be a third death — an unvaccinated individual in New Mexico — who tested positive for measles. Health officials are still trying to confirm if measles was the individual’s cause of death.

Graig Graziosi has the story.

Tesla and X boss Elon Musk has continued to take jabs at Trump officials defending the president’s new tariffs, appearing to want to distance himself from the controversial policy that has been roiling world markets.

President Donald Trump’s tariffs have tanked global markets, and the ultra-wealthy like Musk have been feeling the blow. According to a CNBC analysis, Musk has lost just over $30bn since Trump announced his tariffs. On Sunday, stock futures were down across the big three indexes, and analysts predicted that U.S. markets would open lower on Monday.

That loss and continuing volatility may explain why Musk has been taking pot shots at Trump officials like U.S. Commerce Secretary Howard Lutnick and one of the architects of the president’s tariff plan, Peter Navarro.

READ MORE:

Senator Bernie Sanders has broken his silence over President Donald Trump’s teasing that he will seek a third term in the Oval Office in 2028.

The 83-year-old Vermont senator was asked if he, like many Republicans, laughs off the suggestion of a third term.

“No, I don’t. The idea of a third term? Why not? They don’t believe in the rule of law. They don’t believe in the Constitution. So, yeah, I would take that seriously,” he told CBS News.

Last week, Trump told NBC News in an interview that he was considering “methods” to seek a third term.

Later, on Air Force One from Florida to Washington, he elaborated to reporters that “I have had more people ask me to have a third term, which in a way is a fourth term because the other election, the 2020 election, was totally rigged.” Trump lost that election to Democrat Joe Biden.

Still, Trump added: “I don’t want to talk about a third term now because no matter how you look at it, we’ve got a long time to go.”

Read the full story.