Overview

• Ken Langone, Home Depot co-founder and longtime GOP donor, condemned President Trump's tariffs, calling them 'bull****' and poorly conceived.
• Langone highlighted a 46% tariff on Vietnam and a 34% tariff on China as excessive and counterproductive, warning they could stifle trade discussions.
• He proposed a universal 10% tariff on imports followed by bilateral negotiations as a more constructive approach to trade disputes.
• Trump's tariff policy has been linked to significant market instability, including the largest single-day drop on Wall Street since the Covid-19 pandemic, with $3.1 trillion wiped from the market.
• Other prominent financiers, including Bill Ackman and Stanley Druckenmiller, have also criticized the tariffs, emphasizing the risks of escalating trade wars and economic uncertainty.