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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.
Those who do not learn from history are doomed to repeat it. Fascists happily use corporate influence to gain power. But once theyāve achieved power, the corporations end up completely subjugated to the state just like everyone else. In Hitlerās Germany, if you ran any kind of major company, the state told you what you were going to produce, when you were going to produce it, and how much you would be paid for it. Any executive who objected found themselves joining the other undesirables.