Home Depot co-founder Ken Langone, once a sharp critic of President Trump's tariff policies, now says he's fully "sold" on the president's economic instincts. Langone said Trump could go down as one of the "best presidents ever."
Key Details:
Langone previously called Trump's tariffs "bulls***" but now praises them as "needed" and "right."
He cited unfair trade imbalances, particularly with Germany and Japan, as validation for Trump's tough stance.
The shift comes after Trump's economic record and a near-death experience in Butler, PA shifted Langone's view.
Diving Deeper:
Ken Langone, billionaire co-founder of Home Depot and longtime GOP donor, made waves Tuesday when he publicly reversed his opposition to Donald Trump's trade policies. "I am sold on Trump," Langone told CNBC's Squawk Box, just ahead of new inflation data from the Bureau of Labor Statistics. "In fact, I'll say this: I think he's got a good shot at going down in history as one of our best presidents ever."
Langone's endorsement carries weight, not only because of his business stature, but because of his history: he previously backed Nikki Haley in the Republican primaries and expressed deep frustration with Trump after the January 6 Capitol protests. But his views appear to have shifted dramatically--both in response to Trump's recent economic moves and, perhaps more significantly, following the July 13 assassination attempt at Trump's Pennsylvania rally.
"Knowledge implies one thing: When you made a mistake, admit it," Langone said, acknowledging his earlier dismissal of Trump's tariff strategy. "I think this guy is turning out to be a president, right?"
Trump's "reciprocal tariffs" were designed to push back against long-standing trade imbalances. Langone cited the 10% tariff Germany slaps on American cars, compared to just 2.5% for German vehicles imported to the U.S. "That's wrong," Langone said. "Every other car in America is a Mercedes... most of them are foreign."
He also credited Trump's foreign policy accomplishments, including economic agreements in the Middle East he claims are worth "$3 trillion." That, combined with the president's gut instincts on trade, defense, and economic strength, has convinced Langone the country is better off with Trump in the Oval Office.
"This is a real turnaround because you didn't want to vote for him," co-host Joe Kernan pointed out. "I want to tell you, I'm a believer," Langone replied. "What I'm seeing happening is absolutely nothing short of a great thing."
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