Billionaire investor Bill Ackman said on Thursday China was now isolated and other U.S. trading partners were lining up to make deals following President Donald Trump's stunning reversal of his tariff decision.

Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China.

"Time is not China's friend as every U.S. corporation with a supply chain based in China is seeking to move it to countries that are likely to make favorable tariff deals with the United States," Ackman said in a post on X.