Ken Griffin, founder and CEO of Citadel, speaks during the annual Dealbook top of the New York Times in New York City, December 4, 2024.
Michael M. Santiago | Getty images
CEO of Citadel, Ken Griffin, sent a strict warning against the negative impact of the combative approach of President Donald Trump for American trade policy.
“From my viewpoint, the bombastic rhetoric, the damage has already been done,” said Griffin on Tuesday at the UBS Financial Services Conference in Key Biscayne, Florida. “It is a big mistake to resort to this form of rhetoric when you try to drive a bargain because … it tears in the heads of CEOs, policy makers that we cannot trust in America, as our trading partner.”
The comments from the founder of the billionaire Hedgefonds came after Trump had signed an order on Monday evening that would impose 25% rates for steel and aluminum imports. The president has already established a 10% duty for all Chinese imports, while temporarily pausing his 25% rates for goods from Mexico and Canada.
Griffin, who voted for Trump and was a megaDonor for Republican politicians, believes that the hostile dynamics caused by punitive rates in the long term could make investments for multinational companies and investors.
“It makes it difficult for multinationals, in particular to think about how to plan for the next five, 10, 15, 20 years, in particular when it comes to long -term investments in the lead time that can be adversely affected by a relegation of The current conditions of involvement as one of the leading Western countries when it comes to conditions and trade, “he said.
Griffin previously warned that boyfriend capitalism could be a result of rates. Cryy capitalism is an economic system characterized by close, mutually affordable relationships between managers and government officials.
The White House did not immediately respond to a request for comment.