Ken Griffin, Citadel CEO, said that Donald Trump's trade war suppresses optimism on Wall Street and destroys the US image on the international arena.
– How today Canada perceives our country compared to the situation from two months ago? Giffin asked during the speech at the World Economic Summit organized by the Semaphore in Washington. – How does Europe assess the United States today compared to two months ago? He asked.
According to Griffin, Trump's financial markets were worried and undermined trust in American tax bonds, which – as he says – “The most powerful brand in the world is destroyed.”
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“We risk losing this brand,” Chon, the editor of Semaphore, said in an interview with Gina. “And as we both know, it may take a lot of time before it manages to restore its former splendor,” he added.
On April 9, Trump announced a 90-day break in most of the so-called mutual duties after his earlier announcements shook the financial and bond markets. The White House pointed out that it maintains high duties towards China, because – unlike other countries – Beijing answered Trump's actions.
Griffin admitted that he gave him some hope of the secretary of the treasury Scott Bessent, who suggested the possibility of concluding a commercial agreement between the USA and China. Bessent said that “there is a chance for a large deal”, which improved the mood in the markets. In the middle of the day, when he talked about it, the Indexes Dow Jones Industrial Average and S&P 500 slightly gained value.
Griffin decided that the first 100 days of Trump had a “mixed” character. He positively assessed the quick activities of the White House in matters of immigration, the liquidation of requirements regarding diversity and exerting pressure on European allies to increase their expenses for defense. He noticed, however, that the pace of Trump's administration decision leads to “mistakes and trips”.
– We operate too quickly and too chaotically, trying to solve real problems He summed up.
Griffin, one of the greatest donors of the Republican party, He supported the former ambassador at the UN Nikki Haley in the presidential primaries in 2024. He appreciated Trump for his approach to migration, reduction of diversity requirements and emphasis on NATO allies, so that they were more financially involved.
See also: How did the professionals cope on the stock exchange after Trump's customs? Most in the downside [TABELE]
Like many representatives of Wall Street, Griffin initially positively received Trump's victory. However, the commercial policy of the former president weakened the enthusiasm that prevailed among investors.
– I think we all counted on four years of intensive development of our companies – said Griffin. – Unfortunately, the trade war, which turned into something completely illogical, meant that now, instead of development, we have to focus on supply chains and wonder how to strategically acquire goods from different parts of the world He summed up.
The above text is a translation with American Business Insider edition
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