Ken Griffin, the founder of multi-strategy hedge fund major Citadel and market maker Citadel Securities, has issued a stark warning about the potential economic fallout from President Donald Trump’s aggressive tariff policies, according to a report by the Daily Mail.
The report cites Griffin during a UBS Group-hosted conference on Tuesday, as criticising the administration’s “bombastic rhetoric” on trade, calling it a significant risk to America’s long-term economic stability.
“The uncertainty and chaos created by the tariff dynamics between us and our allies is an impediment to growth,” Griffin stated. “It makes it difficult for multinationals, in particular, to plan for the next five, 10, 15, or 20 years.”
Griffin’s remarks follow Trump’s decision on Monday to impose sweeping tariffs, including a flat 25% on steel and aluminium imports and 10% tariffs on all goods from China. The president also threatened further measures against Canada and Mexico, escalating tensions with key trading partners.
Although Griffin has been a Republican donor and voted for Trump in the 2016 election, he has been a vocal critic of several of the president’s policies, particularly on tariffs and immigration. Griffin argued that the tariffs could harm US competitiveness, widen the trade deficit, and incentivise trading partners like Canada to diversify their customer base.
“A tariff on Canada’s energy products, for example, could push the country to strengthen ties with China or other trading partners,” he said.
Griffin expressed concern that Trump’s harsh rhetoric could have long-lasting repercussions. “The damage has already been done. CEOs and policymakers are starting to believe that they can’t depend on America as a reliable trading partner,” he warned.
