Citadel CEO Ken Griffin has sharply criticized Donald Trump’s tariffs on US allies, calling them “a disaster” during a speech at the Future of Global Markets Conference in New York. Griffin, who has backed several Republican candidates, warned that the trade disputes have fueled inflation and disrupted global supply chains ahead of the midterm elections. “I think that the tariff battles with Canada, with Europe, with our allies has just been a disaster,” he said, reiterating his earlier warnings about the policy.
The economic fallout from Trump’s tariffs has been significant. US consumer prices rose 3.7% in September from a year earlier, while inflation has erased nearly all of the average worker’s hourly wage gains since Trump returned to office. Griffin predicted that Republicans would likely lose control of at least one chamber of Congress, describing the midterms as a check on the party in power. “The House almost is in a really tough spot and the Senate's going to be really close,” he added.
Griffin also criticized Trump’s handling of the war in Iran, calling it “very unpopular” and saying the president had failed to explain the conflict effectively to the American public. On immigration, Griffin expressed support for securing the border but argued that immigrants already in the country should be offered a path to legal status. “If you are here with your family or by yourself and you are gainfully employed and you are working to find a better life for your family, there needs to be a way to stay in our country,” he said.