- cross-posted to:
- nottheonion@lemmy.world
- cross-posted to:
- nottheonion@lemmy.world
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.
Itās not concern about theft, itās just penny-ante nickel-and-dime BS to get you to buy more than you need. But as you said, itās so hostile to customers that you wind up going somewhere else for bigger ticket items. Of course the opportunity cost is invisible to them.