financetom
Economy
financetom
/
Economy
/
Citadel's Griffin sees tariffs posing risk to US growth
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Citadel's Griffin sees tariffs posing risk to US growth
Feb 11, 2025 11:09 AM

NEW YORK (Reuters) - Ken Griffin, founder and CEO of investment firm Citadel, said on Tuesday that U.S. President Donald Trump's tariff policy is a risk to economic growth and may force other countries to find new trade alliances, as he criticized Trump's "bombastic rhetoric."

"The uncertainty and chaos created by the tariff dynamics between us and our allies is an impediment to growth," he told the audience at a conference hosted by UBS Group. "It makes it difficult for multinationals in particular to think about how to plan for the next five, 10, 15, 20 years."

Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% "without exceptions or exemptions," and imposed 10% tariffs on all goods from China while also threatening both Canada and Mexico.

Griffin, a Republican supporter who has said he voted for Trump in the November election, is a critic of some of Trump's policies, such as tariffs and immigration, as he believes they could increase the U.S. deficit and make domestic companies less competitive and productive.

Griffin said a tariff on Canada's energy products could force the country to diversify its customer base and find new trading partners, such as China.

"From my vantage point, the bombastic rhetoric, the damage has already been done. It's a huge mistake to resort to this form of rhetoric when you're trying to drive a bargain, because it sears into the minds of CEOs and policymakers that 'we can't depend upon America as our trading partner.'" he said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Rises in Europe but Norwegian Krone, Mexican Peso Buck Trend
US Dollar Rises in Europe but Norwegian Krone, Mexican Peso Buck Trend
Jun 20, 2024
06:47 AM EDT, 06/20/2024 (MT Newswires) -- The US dollar rose against most major counterparts during the European morning on Thursday but the Norwegian krone and Mexican peso bucked the trend as robust risk appetite in global markets appeared to support high beta currencies. Norway's krone outperformed G10 peers when rising against an otherwise stronger US dollar but the greenback's...
US weekly jobless claims fell in latest week
US weekly jobless claims fell in latest week
Jun 20, 2024
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, but overall strength in the jobs market persisted despite a gradual cooling. Initial claims for state unemployment benefits declined 5,000 to a seasonally adjusted 238,000 for the week ended June 15, the Labor Department said on Thursday. That reversed 5,000 of the surge in...
US single-family housing starts fall in May
US single-family housing starts fall in May
Jun 20, 2024
WASHINGTON (Reuters) - U.S. single-family homebuilding fell in May amid continued high mortgage rates. Single-family housing starts, which account for the bulk of homebuilding, declined 5.2% to a seasonally adjusted annual rate of 982,000 units last month, the Commerce Department's Census Bureau said on Thursday. Data for April was revised higher to show single-family starts rising to a rate of...
US Dollar Overlooks Jobless Claims Miss, Deeper Current Account Deficit
US Dollar Overlooks Jobless Claims Miss, Deeper Current Account Deficit
Jun 20, 2024
09:09 AM EDT, 06/20/2024 (MT Newswires) -- The US dollar maintained gains over most other major currencies in early North American trade on Thursday even after weekly unemployment claims came in higher than was expected, and the current account deficit deepened. EUR/USD and GBP/USD remained under pressure near intraday lows around 1.0714 and 1.2677, respectively, while USD/JPY was volatile around...
Copyright 2023-2026 - www.financetom.com All Rights Reserved