GOP Mega-Donor Ken Langone Critiques Trump Tariffs as Unclear and Harmful

GOP Mega-Donor Langone Questions Tariff Formula

Billionaire Republican donor Ken Langone, a prominent supporter of President Trump, has voiced strong criticisms regarding the tariffs imposed by the administration. He described Trump's tariffs as "bulls---" and expressed confusion over the calculations involved. This uncertainty may lead to significant economic disruptions.

Trump's Tariff Plan Overview

Last week, Trump announced a comprehensive tariff strategy aimed at addressing trade imbalances, which imposes steep taxes on a wide range of imports. This has already led to market volatility as countries contemplate possible retaliatory measures.

Langone's Concerns About Trade Policy

• High Tariffs on Vietnam: Langone criticized the 46% tariff levied on Vietnam, calling it excessive.
• China's Aggressive Tariffs: He also deemed the 34% tariff on Chinese goods as too harsh at this stage.
• Effect on Negotiations: Langone argued that such drastic measures hindered constructive negotiations with China.

Reactions from China

Responding to these tariffs, China's Ministry of Commerce labeled them as "completely groundless" and indicated a readiness to retaliate with their own tariffs. This escalating tension could lead to a serious trade war.

A Proposed Alternative

Langone suggested that a more measured approach, such as a 10% tariff combined with direct negotiations, could facilitate better trade relations and avoid a tariff war.