U.S. ⁠hedge fund manager Bill Ackman said on Friday that President ‍Donald Trump's call for a one-year ⁠cap on credit card interest rates ​at 10% starting on Jan. 20 "is ‍a mistake."

"Without being able to ⁠charge rates adequate enough to cover losses and earn ⁠an ​adequate ⁠return on equity, credit ‍card lenders will cancel cards ‌for millions of consumers," Ackman said ⁠in ​an ‍X post.