Billionaire Home Depot co-founder Ken Langone has done a 180 after blasting Trump's sweeping tariffs, explaining, "When you made a mistake, admit it."
During Langone's appearance on Tuesday on CNBC's "Squawk Box," the co-founder of the home improvement store and top GOP donor said that he was wrong when he called out the president in April suggesting he was getting bad advice from advisors for the "46% tariff on Vietnam" and said the 34 percent rate on China was "too aggressive, too soon."
"I am sold on Trump," Langone told the hosts. "In fact, I will say this. I think he's got a good shot at going down in history as one of our best presidents ever."
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A host on the panel pointed out the "real turnaround" from Langone, adding, "Because you didn't want to vote for him!"
"I told you the reason," the Billionaire donor responded. "I tell ya, I'm a believer. What I'm seeing happening is absolutely nothing short of a great thing. There's a beat. People are walking with more bounce in their step. It's all around."
"Knowledge implies one thing, when you made a mistake, admit it," Langone continued after the host pointed out how much the GOP donor bemoaned his binary choice of either Trump or former Democratic presidential candidate Kamala Harris.
Speaking to the Financial Times earlier this year, Langone slammed Trump and the tariffs, explaining that:
"I don't understand the Goddamn formula," Langone, a veteran GOP campaign donor, told the Financial Times on Monday.
"I believe he's been poorly advised by his advisers about this trade situation — and the formula they're applying."
As the New York Post noted, Langone wasn't the only top financier to blast it. The report read:
Billionaire fund manager Bill Ackman, a staunch Trump ally, on Sunday warned the world is on the brink of "self-induced economic nuclear winter" as he begged the prez to hit pause on the tariffs.
JPMorgan & Chase chief executive Jamie Dimon warned, too, that uncertainties around Trump's sweeping tariffs should be resolved quickly — since the trade policy could reheat inflation and slow growth.
And Stanley Druckenmiller, the billionaire hedge fund manager who was once Treasury Secretary Scott Bessent's boss, has publicly said he's opposed to the tariffs exceeding 10%.
Trump's economic policies continue to win. Not only has he turned things around with his unprecedented approach to tariffs, but blue-collar wage growth is up by historic measures, and we're experiencing the lowest prices at the pump in years.
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He's also winning when it comes to inflation, with the White House touting new numbers on Tuesday, as my RedState colleague Joe Cunningham reported.
The Bureau of Labor Statistics reported that core [Consumer Price Index] CPI—which strips out volatile food and energy prices—rose just 0.2 percent in June, below the 0.3 percent economists expected. That pushed the annual core inflation rate to 2.9 percent, matching expectations but marking progress toward the Federal Reserve's 2 percent target.
Core inflation was held down by declines in both new and used vehicle prices, along with airfares and lodging costs. That's real money back in working families' pockets—exactly the kind of relief Americans have been waiting for.
Add all this to the list of positive economic developments we've already seen in Trump's second term.
Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
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