Citadel's Ken Griffin Slams Trump's Tariff Policies as "Huge Mistake"
Citadel founder and CEO Ken Griffin has publicly criticized the aggressive trade rhetoric employed by the Trump administration, labeling it a "huge mistake" and an "impediment" to economic growth.
At a recent UBS conference in Miami, Griffin expressed his concerns over the tariffs imposed by President Trump, stating that they create "uncertainty and chaos" and make it difficult for businesses to plan for the future.
"The bombastic rhetoric, the damage has already been done," Griffin said. "It imprints, it sears into the minds of CEOs, policymakers."
Griffin's comments have drawn attention due to his influential position on Wall Street and as a major Republican donor. Despite voting for Trump in 2016, Griffin did not contribute to his campaign and has previously criticized the president.
Trump's tariff threats have dominated his early weeks in office. He has imposed tariffs on steel and aluminum imports, with additional reciprocal tariffs expected in the coming weeks. These moves have sparked concerns over trade wars with countries such as China, Canada, and Mexico.
While Griffin has previously downplayed concerns about Trump's tariff policies, his recent remarks suggest a shift in his views. However, he did praise some of the administration's efforts to boost the U.S. economy, such as tax cuts and deregulation.
Griffin also commended Elon Musk and his Department of Government Efficiency (DOGE) for their attempts to shrink the U.S. government, recognizing Musk's willingness to dedicate his time to public service.
Despite his positive remarks on other aspects of the Trump administration, Griffin remains critical of the tariffs, arguing that they harm competition and protect U.S. monopolies.
Meanwhile, Wall Street's initial optimism about the Trump presidency has not fully materialized. Merger and acquisition activity has slowed, and there are uncertainties surrounding antitrust regulations and borrowing costs.
Bank executives have acknowledged the shifting policy environment and urged optimism while acknowledging the need for greater certainty before committing to significant investments.