Ken Griffin: Trump's Tariffs Risk Economic Growth, Spur New Alliances
Ken Griffin, CEO of Citadel, warns that President Trump's tariff policy poses a threat to economic growth and could drive other nations to seek alternative trade partnerships.
At a UBS Group conference, Griffin criticized Trump's "uncertain" and "chaotic" tariff tactics, which he believes hinder multinational planning and investment. He specifically cited the recently imposed tariffs on steel and aluminum imports, as well as the threatened tariffs on goods from China, Canada, and Mexico.
Griffin, a Republican supporter, has previously criticized Trump's policies on tariffs and immigration, arguing that they increase the US deficit and undermine domestic competitiveness. He expressed concern that a tariff on Canadian energy products could prompt Canada to diversify its customer base and pivot towards China.
Griffin emphasized the damaging impact of Trump's "bombastic rhetoric," suggesting that it has eroded the trust and dependence of CEOs and policymakers in America as a reliable trading partner. He believes that resorting to such rhetoric during negotiations is a grave mistake, as it creates a perception of unreliability and disrupts business planning.