Billionaires on Wall Street are united in their criticism of Trump's tariffs.
On the 7th (local time), the Financial Times (FT) reported that even billionaires who have consistently supported Trump are showing a critical attitude toward this tariff measure.
According to FT, Ken Langone, a prominent Republican supporter and co-founder of the retail company Home Depot, expressed blatant opposition to the tariff policy.
In an interview with FT, Langone remarked that imposing a 46% reciprocal tariff on Vietnam is "bullshit," adding that the decision to impose a 34% tariff on China was also too hasty. He further pointed out that it would have been wiser to impose a 10% tax on all imports first and then hold bilateral negotiations.
Jamie Dimon, chief executive officer (CEO) of JPMorgan Chase, also expressed skepticism about the tariff measures. In a 59-page annual letter sent to shareholders, Dimon noted that tariffs will raise prices and plunge the global economy into recession. He expressed concern that "(tariffs) could have a negative impact on the long-term economic alliance of the United States" and that "the growth of the U.S. will slow down."
This contrasts with his remarks in a January interview with CNBC, in which he mentioned that if tariff policies help stimulate manufacturing, some price increases should be overcome.
Stanley Druckenmiller, a billionaire investor considered a mentor to Treasury Secretary Scott Morrison, also publicly criticized the tariffs by posting on social media X (formerly Twitter) that "tariffs exceeding 10% should not be imposed."
Even those identified as Trump's closest associates appear to hold a negative stance toward this measure.
Elon Musk, CEO of Tesla, declared that "a tariff-free situation between the U.S. and Europe is correct," advocating for the complete abolition of tariffs. He also criticized Peter Navarro, Trump's trade advisor, saying he is "someone who has achieved nothing on his own."
Wilbur Ross, who served as Secretary of Commerce in the Trump administration, also noted that "the impact of tariffs is much more severe than expected," pointing out that the effects on Vietnam, China, and Cambodia are extreme.
Some speculate that Trump will eventually engage in bilateral negotiations. Ross stated, "Countries that suffered the most from this measure will step forward," adding that "ultimately, I expect we will reach an agreement."