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 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.
He must be one of those āseed loan from my daddyā type businessmen if he didnāt see this coming
Of the administrationās 46 percent tariff on Vietnamese products, Langone was frank. āBullsāt,ā he said.
āForty-six per cent on Vietnam? Come on!ā the billionaire said. āYou might as well tell them, āDonāt even bother calling.āā
Langone, a donor to Trumpās 2016 campaign, Nikki Haleyās 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.
āI donāt understand the godān formula,ā he said. āI believe heās been poorly advised by his advisers about this trade situationāand the formula theyāre applying.ā
Maybe this guy should stop complaining and just start short selling the market, like all Trumpās other buddies. /s
Is this what Trump calls āyippyā? Hahaha I will never stop laughing at that.
