Hedge Fund Giant Ken Griffin Slams Trump's Tariff Policies, Citing Economic Damage
New York, United States - In a stark departure from previous comments, hedge fund billionaire Ken Griffin has voiced strong criticism of President Donald Trump's tariff policies, calling them a "huge mistake" that impede economic growth.
Speaking at a UBS conference in Miami, Griffin expressed concern over the "uncertainty and chaos" created by the tariff dynamics. He believes it hinders multinationals from planning for the long term.
Griffin's comments carry significant weight given his prominence on Wall Street and as a major donor to Republican campaigns. Previously, he had downplayed concerns about Trump's trade policies, but his tone has become more dire.
He also acknowledged positive aspects of the new administration, such as efforts to loosen regulations and promote economic growth. However, he praised Elon Musk's Department of Government Efficiency (DOGE) for its aim to reduce government bureaucracy.
Despite Griffin's positive views on certain aspects of the administration, he condemned the tariffs as a hindrance to competition and protectionist measures. He compared them to actions taken in the "death throes of a nation."
Griffin's remarks reflect the ongoing uncertainty surrounding Trump's trade policies and their potential economic impact. Banks and businesses remain unsure about making significant investments and borrowing decisions.
Despite the concerns raised by Griffin and other financial leaders, Goldman Sachs CEO David Solomon and others expressed optimism about the long-term direction of travel, once greater policy certainty is established.