Ken Griffin is the founder and CEO of Citadel, one of the world’s leading alternative investment companies. On Wednesday, Griffin addressed the effect of the Trump administration’s continuous tariff policies, warning that the global reputation of the United States is at stake.
“The United States is more than just a nation-it is a trademark,” Griffin said on Wednesday in a conversation side by side during the SEMAFOR Global Economy Summit. Griffin said that from its culture to financial and military power, the United States is considered an ambition for most of the world, but in this turn “we are eroding that brand at the present time.”
Griffin’s comments come amid continuous repercussions from the head of the “mutual” definitions that Trump announced on April 2, which led to the collapse of the market. Trump withdrew in part a week by announcing a 90 -day stoppage on some customs tariffs, but a 10 % tariff remains on almost all global imports, and a 25 % tax remained on imported cars and some automatic parts in place. Trump told the White House correspondents on Tuesday that the American tariff rate on Chinese imports, currently 145 %, “will decrease dramatically but will not be zero.”
Griffin explained that Griffin gives the recent economic turmoil raised by the White House in the context of consumers who buy a product because they trust the brand. He said: “In financial markets, the announcement cannot compare the American treasury … We have been at risk.” Griffin said it takes a long time to remove distortion on a brand.
Fears of policies that convert the United States government to weaken the dollar against other Fiat currencies, although the dollar settled on Tuesday with the market reserves, luck I mentioned. However, 61 % of the participants in surveying the latest global fund manager at Bank of America expected The dollar will decrease in value next year.
Griffin said that the president, as well as Treasury Secretary Scott Bessin and Trade Minister Howard Lottenic, “needs to be very thoughtful.” “When you have a brand, you need to act in a way that respects that brand,” he pointed out.
He said that many people with the president’s ear support the current tariff policies. He added that there is room to discuss what the correct policy is and what measures should be taken. “But the most important thing is how we behave ourselves so that we do not reduce the position of the United States of America,” Griffin said.
This story was originally shown on Fortune.com
