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GOP megadonor rages at Trump’s ‘bulls**t’ tariffs (www.thedailybeast.com)

submitted 2 weeks ago by [email protected] to c/[email protected]

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cross-posted from: https://feddit.org/post/10522239

geteilt von: https://europe.pub/post/159443

cross-posted from: https://lemmy.world/post/27935573

Summary

Home Depot co-founder and GOP megadonor Ken Langone blasted Trump’s sweeping tariffs as “bulls--t,” calling the 10% across-the-board rate and country-specific hikes—like 34% on China and 46% on Vietnam—“too aggressive” and poorly calculated.

Langone criticized the administration’s formula, based on trade deficits, as nonsensical.

Other prominent figures, including economists and billionaires like Stanley Druckenmiller, Bill Ackman, and Elon Musk, have also spoken out.

Critics warn the tariffs hinder negotiation and lack sound economic grounding. Langone said Trump is being “poorly advised” on trade policy.

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[–] [email protected] 10 points 2 weeks ago

Maybe this guy should stop complaining and just start short selling the market, like all Trump's other buddies. /s

[–] [email protected] 5 points 2 weeks ago

Is this what Trump calls “yippy”? Hahaha I will never stop laughing at that.

[–] [email protected] 23 points 2 weeks ago

He must be one of those “seed loan from my daddy” type businessmen if he didn’t see this coming

[–] [email protected] 12 points 2 weeks ago

Of the administration’s 46 percent tariff on Vietnamese products, Langone was frank. “Bulls--t,” he said.

“Forty-six per cent on Vietnam? Come on!” the billionaire said. “You might as well tell them, ‘Don’t even bother calling.‘”

Langone, a donor to Trump’s 2016 campaign, Nikki Haley’s 2024 presidential bid, and GOP-aligned advocacy group Americans for Prosperity, also called out the math involved in calculating the tariffs, which experts figured out was simply dividing the trade deficit the U.S. has with a country by the value of imports from said country.

“I don’t understand the god---n formula,” he said. “I believe he’s been poorly advised by his advisers about this trade situation—and the formula they’re applying.”