Ken Griffin, CEO of Citadel, issued a strong warning about the detrimental effects of President Donald Trump’s tough stance on US trade policy.
At Tuesday’s UBS Financial Services Conference in Key Biscayne, Florida, Griffin stated, “From my perspective, the damage has already been done, the bombastic rhetoric.”
“Using this kind of rhetoric when trying to negotiate is a huge mistake because it instills in CEOs and policymakers the belief that America is not a reliable trading partner.”
Trump signed an order on Monday night that will put 25% tariffs on imports of steel and aluminium, which prompted the billionaire hedge fund founder to make these remarks. The Trump has already put a 10% tax on all imports from China and temporarily suspended his 25% tariffs on goods from Canada and Mexico.
Source (CNBC)
