- Kitadel CEO, Ken Griffin, says that President Donald Trump’s tariff policy on China is misleading because the jobs that will be returned “are often those who make low -value things. “There is no money for anyone, and certainly there is no money to do these jobs,” Griffin said at a New York forum.
Ken Griffin, founder and head of the CEO of Citadel Securities who supported Donald Trump in the 2024 elections, is a problem with the President’s tariff policy.
Griffin torn Trump’s tariff during appearance On Thursday at the Forbes iconoklast summit in New York, describing the definitions as a “protective policy” that “comes at a great price for the American consumer.”
The changing tariff policy of the president has now resulted in a 30 % tariff for most imports from China and the end of super imports such as the fast fashion label Shin and Timo. Griffin said the pain of the American consumer does not help the American worker.
He said: “The Americans want to wear Nick, not their making,” quoting criticism of the New York University Marketing Professor Scott Galway.
“I don’t know why we strive to return low -value products to the United States,” Griffin continued. “There is no money for anyone, and certainly there is no money to do these jobs … in fact, jobs that are actually graduated from China to low -cost judicial states.
“Why do we aspire to be the nation’s least -cost workforce?”
In fact, China asks the same question, according to Griffin. Talk to Forbes Manit Manit Editor Ahuja at the summit, Griffin narrated to him a trip To China in March, when he met multiple government officials to discuss investment in the country.
“China dreams of being like the United States-a country of very high value, a nation-rich nation, rich in high development … (with) the amazing GDP).”
“China aspires to be like the United States,” Griffin said. The person said: “We want to be like you. Why are you trying to be like us?” She gave a “look from Befuddlement”, according to Griffin.
Griffin said he supports re-preparation functions-but for high technology and high-value products.
He said: “It is one thing that makes Nikes, it’s another F-35 fighters.”
This story was originally shown on Fortune.com
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