Ken Griffin, founder and CEO of Citadel, speaks on December 4, 2024 during the annual Dealbook summit of the New York Times in New York City.
Michael M. Santiago | Getty pictures
Ken Griffin, CEO of Citadel, warned a strict warning against the negative effects of President Donald Trump's combative approach on US trade policy.
“From my point of view, the bombastic rhetoric, the damage has already been done,” said Griffin on Tuesday at UBS Financial Services Conference in Key Biscayne, Florida. “It is a big mistake to use this form of rhetoric if you try to make a bargain because … it in the heads of CEOs, political decision -makers that we cannot rely on America than our trading partner.”
The billionaires' comments -hedge fund founders came to Trump on Monday evening an order that would impose 25% tariffs for steel and aluminum imports. The president has already issued a duty of 10% for all Chinese imports, while temporarily taking a break with his 25% tariffs from goods from Mexico and Canada.
Griffin, who voted for Trump and was a megadonor for Republican politicians, believes that the enemy dynamics caused by punitive tariffs could be a challenge for long -term investments for multinational companies and investors.
“Especially for multinational companies, it is difficult to think about how the next five, 10, 15, 20 years should be planned, especially when it comes to long preliminary time capital investments that could be affected by a deterioration in the current period of time. leading western countries when it comes to conditions and trade, ”he said.
Griffin previously warned that crony capitalism could be a result of tariffs. Crony capitalism is an economic system that is characterized by close, mutual relationships between managing directors and government officials.
The White House did not immediately answer a request for comments.