Ken Langone, founder of Home Depot, voiced strong criticism regarding President Trump's recently implemented tariffs, arguing they lack logic and practicality. In an interview, he highlighted the steep 46% tariff proposed on Vietnamese goods as counterproductive and suggested that such high rates discourage productive negotiations. Langone emphasized that tariffs raise costs for companies, which ultimately fall on consumers. He proposed a more measured approach involving a standard 10% tariff combined with direct discussions with trading partners. Langone also questioned the validity of the data used by the administration to justify these tariffs, indicating a fundamental misunderstanding in their trade policy.
Langone expressed strong criticism of President Trump's tariffs, asserting that a 46% tariff on Vietnamese products is excessive and counterproductive. He believes this discourages negotiation.
The Home Depot founder articulated that tariffs imposed without proper negotiation, particularly a minimum 10% on virtually all imports, ultimately burden consumers and hinder market stability.
Langone underscored the confusion surrounding the figures the Trump administration used to justify tariffs, questioning the logic and soundness of their approach to trade.
The billionaire entrepreneur recommended a more rational strategy of a uniform 10% tariff paired with one-on-one negotiations, arguing that Trump's strategies are not effective.
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