Megadonor Ken Griffin says that Trump’s tariff is “terrifying”, the government says the winners of the winners and losers amid a high trade deficit – Bank: BAC, JPMorgan Chase (NYSE: JPM)
fort founder Ken Griffin The alarm highlights the president Donald TrumpCustoms tariff policies, which warn that they were “launched from patronage capitalism” where the government chooses “winners and losers” in the economy.
What happened: “A tariff that opens the doors on patronage capitalism,” Griffin He said Politico at the World Conference of the Milken Institute. “I thought this would play over the years. It is terrifying to watch this play for weeks.”
The criticism of the hedge fund reflects the growing fears between Wall Street Executive Managers that the escalating trade war can hinder economic growth despite the administration’s promises of prosperity. His comments come at a time when the United States is wrestling with a trade deficit of $ 140 billion in March.
Griffin, a majadon of the Republican Party for a long time, has long been concerned about the selective exemptions of the administration of some industries. He pointed out that the decline in the last dollar will soon weaken the power of buying American consumers.
“Whether it is a flat TV or a new laptop, your dollar will not go to a large extent,” Griffin said. “This begins to appear in the next two weeks.”
See also: Federal Reserve Residences, Trump Trump is a commercial deal in the United Kingdom, ran Bitcoin after 100,000 dollars, recession fears: this week in the markets
Why do it matter: Bank of AmericaThe large investment strategies Michael Hartnett The customs tariff is expected to be reduced in this quarter, warning that the treasury revenues exceeding 5 % can endanger the growth strategy. Jpmorgan Chase Recently raised the recession to 60 % of 40 %, noting the supply chain disorders.
The influence is already feeling in the sectors. Ford Motor Company CEO Jim Farley The definitions announced by the auto manufacturer may cost $ 1.5 billion, forcing the company to withdraw its profit guidelines. The main ports report “Chinese charges mainly stopped”, where retailers face five to seven weeks of stock before the shortage appears.
Despite these concerns, some Trump’s allies are still optimistic. Former presidential advisor Gary Cohen The attendees told the Milken Conference, “We lived through the declines. We lived through running … every time, when we thought it was very bad, it became much better.”
For Griffin, who previously criticized Trump, the danger is clear: “We all want to see the president succeed … there is this high line between constructive criticism and being toxic.”
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Disintegration: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.
