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Several are expressing concern over the tariffs and have chastised Trump about the alarming situation.
Three billionaires in particular have called for Trump to slow down on tariffs and have publicly rebuked him.
Heres what theseprominent tycoons said and if their criticism is right.
While hes not wrong, money expert Andrew Lokenauth2believes his assessment is quite dramatic.
From what Ive seen working with manufacturing companies, even small tariff changes can totally disrupt supply chains.
Lokenauth added, A 10%-34% tariff jump thats massive.
I remember back in September when I was consulting for a mid-sized auto parts manufacturer.
They were already struggling with a 5% cost increase.
Now imagine tripling or quadrupling that.
Their margins would be destroyed.
An economic downturn is likely, according to Lokenauth.
Based on my experience modeling economic impacts, Dimons take is spot-on, he said.
And its usually not just the direct cost.
Theres this cascading effect through the supply chain.
With these new proposed tariffs, were talking about way bigger impacts.
Fishers language is bold and brazen, but not completely wrong, Lokenauth stated.
From my analysis of trade data, Fishers assessment is partially right but oversimplified.
According to Lokenauth, The trade imbalances are real Ive got spreadsheets full of data showing the asymmetry.
But his point about the solution being misguided resonates with me.
I spent months studying similar tariff implementations in other countries.
The data shows theyre like using a sledgehammer when you need a scalpel.
The retaliatory effects alone can wipe out any potential benefits.
And timing-wise, launching this during heightened global tensions feels especially risky.
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