Hedge fund tycoon Ackman urges Trump administration to temporarily suspend and reduce tariffs.

Bill Ackman, the CEO of Pershing Square Capital Management, one of the biggest hedge funds in the United States, said on Monday that he still supports President Trump and hopes to see him "succeed." However, he does believe that it is worthwhile for the government to pause in the midst of the trade war. "So we care about the value of companies. The value of the company is the present value of future cash flows - what is happening now will certainly cause short-term damage. I do not believe it will have a permanent impact. I think it is important to complete the tariff negotiations as soon as possible. I think it is important that we pause the tariffs, achieve a pause, or we will certainly reduce the tariffs to 20% or a similar level," Ackman said in an interview at the Milken Institute Global Conference on Monday.