This article is exclusively available to subscribers of Business Insider. If you're looking for in-depth business insights and analysis, consider becoming an Insider today.

In a recent statement that has garnered significant attention, Richard Branson, the esteemed founder of the Virgin Group, expressed strong disapproval of President Donald Trump's tariff policies. During an interview conducted on Tuesday, Branson, who is now 74 years old and a notable figure in the business world, described Trump's recent economic maneuvers as "erratic and unpredictable," and warned that they could ultimately harm businesses across various sectors.

The backdrop to Branson's comments lies in the ongoing turmoil of global trade, which has been significantly impacted by Trump's controversial tariff announcements. On April 2, the president declared a set of tariffs dubbed "Liberation Day," which set off a cascade of retaliatory measures from numerous countries, including China. This series of events has not only upset international trade relations but has also led to considerable volatility in financial markets.

Branson articulated his concerns clearly: "If he continues, he's in such danger of doing so much damage in this world." These remarks were made just before the launch of Virgin Atlantic Airways new route to Riyadh, Saudi Arabia, highlighting the timing of his warnings against the backdrop of a major corporate expansion.

Reflecting on the economic climate prior to the tariff imposition, Branson lamented, "It's just such a pity because everything was going so bloody well up to about three months ago." His comments underscore the dramatic shift in business sentiment following the introduction of these tariffs.

From multinational corporations with trillion-dollar valuations to small businesses, the ramifications of Trump's tariff policies have forced CEOs to reassess their operational costs and pricing strategies in a bid to shield themselves from the adverse effects. In a notable development, on April 9, Trump announced a temporary 90-day halt on the tariffs, which could potentially impose rates exceeding 40% on imports from certain countries. However, he maintained a universal tariff of 10% that affects most nations, leaving many business leaders uncertain about future developments.

As the head of Virgin Group, Bransons investments span various industries, prominently in travel and entertainment. Following Trump's initial tariff announcement, he took to X (formerly Twitter) to express his views, asserting that the market's adverse reaction was both "predictable and preventable." He emphasized the need for a more measured approach, stating, "Even if you agree with the premise of these tariffs, every reasonable effort should be made to give US companies sufficient time to adapt."

In a subsequent post on April 7, Branson warned that the consequences of these tariffs for the average American could be "catastrophic." He stressed that the ripple effects would extend globally, as countries respond to the ongoing trade skirmishes. Branson concluded with a call to action, urging the current administration to recognize and rectify what he termed a "colossal mistake." He warned, "Otherwise, America will face ruin for years to come." These remarks reflect his profound concern for the long-term economic health of the United States amidst escalating trade tensions.