- cross-posted to:
- leopardsatemyface@lemmy.world
- nottheonion@lemmy.world
- cross-posted to:
- leopardsatemyface@lemmy.world
- nottheonion@lemmy.world
Summary
Home Depot co-founder and GOP megadonor Ken Langone blasted Trump’s sweeping tariffs as “bulls–t,” calling the 10% across-the-board rate and country-specific hikes—like 34% on China and 46% on Vietnam—“too aggressive” and poorly calculated.
Langone criticized the administration’s 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 “poorly advised” 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 they’ve achieved power, the corporations end up completely subjugated to the state just like everyone else. In Hitler’s 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.