SINGAPORE (Reuters) - Billionaire fund manager Bill Ackman, who endorsed Donald Trump's run for President, said the U.S. leader was losing the confidence of business leaders and should pause his trade war.

"The president has an opportunity to call a 90-day time out," Ackman said in a post on X, to resolve trade issues via negotiation.

"If, on the other hand ... we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate."