Ken Langone Reflects on Trump’s Tariff Policies and Presidency

Ken Langone, the co-founder of Home Depot, shared his thoughts on President Donald Trump’s tariff policies on Tuesday, noting that earlier concerns didn’t mean he was completely opposed to the president.

His remarks came during an appearance on “Squawk Box,” right before the Bureau of Labor Statistics reported a 2.7% year-on-year increase in the Consumer Price Index (CPI) for June. Langone admitted feeling apprehensive about the tariffs, stating he was quite “bummed” when Trump initially announced them back in April.

“I care about that; I trust Trump—his instincts are usually good,” Langone said. He added that there are issues that need to be addressed, referencing historical decisions to help rebuild countries like Germany and Japan after World War II.

“Look at what happened with Japan. They’ve bounced back,” he continued. “You won’t find many American cars for sale in Germany, and their vehicles face a 10% tariff. Most cars in the U.S. are foreign brands, like Mercedes and Audi.”

Earlier this year, Trump had outlined his tariff strategy during an event in the Rose Garden, asserting that he wanted to create “mutual” tariffs to tackle trade imbalances. He also announced a delay on these tariffs shortly after.

“I think things might settle down,” Langone speculated, pointing to Trump’s dealings in the Middle East, which he said might yield substantial economic benefits. “Honestly, I think he has the potential to be remembered as one of our greatest presidents.”

Co-host Joe Kernan chimed in, reflecting on Langone’s previous hesitance to support Trump. Langone had once voiced his disappointment in the wake of the Capitol riots on January 6, 2021. However, following a recent assassination attempt on Trump, Langone seemed to have reassessed his stance.

Reflecting on these changes, Langone noted, “If I make a mistake, I’ll own up to it. I think he’s managed to steer this ship through some pretty turbulent waters.”