Hedge Fund Tycoon Blasts Trump's Tariff Policies, Sees 'Impediment to Growth'
Billionaire Ken Griffin, founder and CEO of Citadel, has strongly criticized President Donald Trump's recent trade policies, labeling them a "huge mistake."
Griffin's Concerns
Griffin argues that the "bombastic rhetoric" and "uncertainty and chaos" surrounding tariffs are hindering economic growth. He believes it makes it difficult for businesses to plan for the future.
Criticism of Protectionism
Griffin sees tariffs as a barrier to competition that benefits US monopolies while raising prices for consumers. He compares the measures to the "death throes of a nation."
Positive Outlook Amid Policy Shifts
Despite his concerns about tariffs, Griffin acknowledges the positive efforts of the Trump administration, such as regulatory easing and attempts to reduce government red tape.
Wall Street's Surprise
Wall Street had initially anticipated a more favorable environment under Trump, but the President's actions have led to slower dealmaking, uncertainty surrounding tax breaks, and skepticism about mergers.
Outlook for the Future
Bank executives acknowledge the uncertainty caused by policy shifts but urge optimism. They believe that the overall direction should be more constructive in the long term. However, they note that it may take some time for the effects of Trump's policies to become clear.