Finance guru Bill Ackman's stern advice to world leaders reeling from Trump's tariffs amid fears of trade war

Finance guru Bill Ackman offered some stern advice to world leaders reeling from US President Donald Trump's tariffs amid fears of a global trade war.

In a post on X Thursday night, the CEO of Pershing Square urged world leaders to quickly strike a deal with the president as the tariffs - which range from 10 percent to upward of 50 percent - shook global markets.

'My advice to foreign leaders is that if you have not already reached out to President [Trump], you need to do so immediately,' he wrote.

'Trump is, at his core, a dealmaker who sees the world as a series of transactions,' Ackman continued, characterizing the commander-in-chief as a 'tough but fair negotiator.

'He loves to make deals and he loves to get things done promptly.'

Ackman also said that he suspects the president will 'reward the early dealmakers with fairer deals than those that wait to sit down at the negotiating table.

'Countries that respond with additional tariffs on our goods will be severely punished,' he warned.

'The Art of the Deal will soon be sold out on Amazon,' Ackman continued, referring to Trump's book about how he conducts business. 

'But if you are running a foreign country that is now subject to massive tariffs, don't wait to read the book. Just pick up the phone. Call the president and make a deal,' he wrote, signing his message as a 'friend of the global economy.'

First Son Eric Trump agreed, writing in his own message: 'I wouldn't want to be the last country that tries to negotiate a trade deal with [Trump].'

'The first to negotiate will win- the last will absolutely lose,' he wrote on X, noting: 'I have seen this movie my entire life.'

Their messages come as presidents and prime ministers around the world are considering their options to respond to the sudden tariffs.

In the UK, Prime Minister Keir Starmer said he was focused on making a deal with Trump that could spare British firms the worst impacts from the tariffs.

But he set also set a May 1 deadline for a consultation on launching a tit-for-tat response – and published a 417-page dossier of US goods that could be hit.

Sir Keir said he would not ‘jump into retaliatory action with both feet at the get go’.

At the same time, he added: ‘I accept that we need to go further. I accept that we need to preserve our options, which is why all options are on the table.’

Italian Prime Minister Giorgia Melni also said on Thursday that her country 'will do anything we can to work towards an agreement with the United States, Reuters reports. 

European Commission President Ursula von der Leyen, meanwhile, blasted Trump's tariffs as a 'major blow to the world economy' and vowed to implement countermeasures.

She also said that while it was 'not too late to address concerns through negotiations', the EU would not hesitate to resort to countermeasures 'to protect our interests and our businesses if negotiations fail.' 

Canadian Prime Minister Mark Carney went even further, announcing on Thursday that his 25 percent tariff on all vehicles not compliant with the United States-Mexico-Canada Agreement.

'We make these measures reluctantly,' Carney said. 'And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada.'

Yet the tariffs are already set to take a toll on the average American family, according to the conservative advocacy group Advancing American Freedom.

The group, founded by former Vice President Mike Pence, estimates the plan will cost American families more than $3,500 a year. 

The analysis noted the price tag would easily erase three years worth of pay raises for most families. 

It also found that major purchases such as a new home or car could cost families $7,000 more.

And just moments after Trump announced the wide-ranging reciprocal tariffs on Wednesday, the global stock market plummeted like a stone. 

By the time the global markets closed at 4pm in New York, the S&P 500 was down 4.84 percent, its worst day since June 2020 — as $2 trillion was wiped from an index almost every American has in their normal and retirement investments. 

The Nasdaq plummeted 5.97 percent, its worst day since March 2020. The Dow Jones 3.98 percent, a headline-grabbing 1,700 point drop.

The precipitous decline left many Americans worrying about their 401ks. 

But Trump seems unfazed. 

When asked about tumbling stocks on Thursday as he boarded Air Force One to attend a golf dinner in Miami — as the Dow Jones was down 1,400 points — Trump said: 'I think it is going very well.'

'It was an operation. [It is] ike when a patient gets operated on and it's a big thing. I said this would exactly be the way it is,' he added, claiming that 'six or seven trillion' dollars would be coming into US. 

'The markets are going to boom... the country is going to boom and the rest of the world wants to see if there's any way they can make a deal,' the president continued. 

He also said Americans should not be worried about their retirement funds, telling reporters: 'I haven't checked my 401k.'