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- cross-posted to:
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- [email protected]
Summary
Home Depot co-founder and GOP megadonor Ken Langone blasted Trumpās sweeping tariffs as ābullsāt,ā calling the 10% across-the-board rate and country-specific hikesālike 34% on China and 46% on Vietnamāātoo aggressiveā and poorly calculated.
Langone criticized the administrationās 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 āpoorly advisedā on trade policy.
But they never do, nor will they ever have to. They can just sue the company for poor stock performance and then claim the unrealized losses as a tax write-off this year. Itās infuriating. If aliens are real, I hope they can summon the billionaires money in physical form and then drop it on them.