Billionaire investor Bill Ackman and CEO of Pershing Square Capital Management on Wednesday praised President Donald Trump's decision to place a 90-day pause on tariffs for countries that have not retaliated against U.S. trade measures.

The president also hiked tariffs on China to 125%, effective immediately. 

What To Know: Ackman took to the social media platform X to express his relief and gratitude to President Trump and Treasury Secretary Scott Bessent in a series of posts.  

"Thank you on behalf of all Americans," Ackman wrote, adding ".@SecScottBessent rocks!"

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In a subsequent post, Ackman highlighted Trump's approach as the "perfect setup for trade negotiations over the next 90 days," and added some advice for China. 

"Pick up the phone and call the President. He is a tough but fair negotiator. The longer China holds out and retaliates, the worse the outcome for China," he wrote. 

He also advised China to move quickly as companies are already in the process of finding new suppliers and supply chains in order to avoid the high import fees now associated with Chinese goods. 

"Supply chains are time consuming and can be expensive and challenging to move. Once moved, they are sticky. Tick tock," Ackman wrote. 

The billionaire investor had previously called for a 90-day pause on tariffs to allow for negotiations and warned of an "economic nuclear winter" that could result if the policies had stood.  

Market Reaction: All three major indexes rallied following the president's tariff pause with the SPDR S&P 500 ETF Trust (NYSE:SPY), tracking the S&P 500, up 9.48% and the Invesco QQQ Trust (NASDAQ:QQQ), tracking the Nasdaq 100 index, rising 12% to close Wednesday's session. 

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Image created using artificial intelligence via Midjourney.