Home Depot co-founder and GOP megadonor Ken Langone criticized the scope and timing of Donald Trump’s tariffs Monday as a growing number of Trump loyalists speak out.
In an interview Monday with The Financial Times, Langone was critical of the president’s “bulls–t,” and claimed Trump was being “poorly advised” on the issue, which saw him institute 10 percent tariffs across the board in addition to varying levies per country.
As for the administration’s 34 percent tariffs on China, for instance, Langone said it was “too aggressive, too soon,” and prevented “serious negotiations” with the superpower to work.
Of the administration’s 46 percent tariff on Vietnamese products, Langone was frank. “Bulls–t,” he said.
“Forty-six per cent on Vietnam? Come on!” the billionaire said. “You might as well tell them, ‘Don’t even bother calling.‘”
Langone also called out the math involved in calculating the tariffs, which experts figured out was simply dividing the trade deficit the U.S. has with a country by the value of imports from said country.
“I don’t understand the god—n formula,” he said. “I believe he’s been poorly advised by his advisers about this trade situation—and the formula they’re applying.”
Others, like the very economics professor whose paper on trade policy Trump cited, were stunned by the administration’s calculations.
“My first question, when the White House unveiled its tariff regime, was: How on earth did they calculate such huge rates?” University of Chicago professor Brett Neiman wrote in a New York Times op-ed.
“The Office of the U.S. Trade Representative released its methodology and cited an academic paper produced by four economists, including me, seemingly in support of their numbers. But they got it wrong. Very wrong.”
Langone has joined other billionaires including Stanley Druckenmiller and Bill Ackman who have criticized the move. Druckenmiller, who Treasury secretary Scott Bessent has described as a “mentor,” posted to X, “I do not support tariffs exceeding 10%.”
Elon Musk has also reportedly sparred with the president over the tariffs. The “first buddy” reportedly personally appealed to Trump, sources told The Washington Post, though Musk’s attempts have apparently been futile.
