Citadel CEO Ken Griffin has expressed a mixed opinion on President Donald Trump’s first 100 days in office, particularly highlighting concerns over the trade war. Griffin, who has openly voiced his discomfort with Trump’s tariffs, stated on Wednesday that the president’s policies are harming the reputation of the United States, which he described as the “American brand.”
During an interview at Semafor’s World Economy Summit in Washington, Griffin raised questions about how foreign nations perceive the US today compared to just two months ago.
He pointed out that Trump’s trade actions have unsettled financial markets, leading to a loss of confidence in US Treasuries and weakening America’s global standing. Griffin warned that the damage to the “brand” could take a long time to undo.
In response to Griffin’s comments, Stephen Miran, chair of the White House Council of Economic Advisers, disagreed, suggesting that Griffin’s view was short-sighted.
Miran believes that once the administration’s work on trade deals, tax cuts, and deregulation takes effect, the US economy will grow significantly.
He argued that a strong economy would naturally restore confidence in America’s brand, leading to increased investments, hiring, and overall happiness for Americans.
In early April, Trump announced a 90-day pause on most of his “reciprocal tariffs” after a period of volatility in financial and bond markets.
The White House justified the continued tariffs on China, citing Beijing’s retaliatory actions, unlike those from other countries.
Despite this, Griffin found some hope in Treasury Secretary Scott Bessent’s remarks suggesting that the US and China could reach a trade agreement, which had a positive effect on the market. As of midday, the Dow Jones Industrial Average and the S&P 500 had seen slight gains.
Overall, Griffin’s assessment of Trump’s first 100 days has been “mixed.” He praised the administration for its swift actions on immigration, removal of diversity requirements, and efforts to get European allies to contribute more to defense costs.
However, he noted that the speed of these actions had led to “missteps,” adding that the US was moving too quickly and breaking too much “glass” in the process of solving real problems.
Griffin, a prominent Republican donor, supported former UN ambassador Nikki Haley for the 2024 GOP presidential primary.
Although he had initially reacted positively to Trump’s victory, he expressed disappointment over the president’s trade policies, which he said have dampened the optimism he and others had hoped for.
“We were all looking forward to four years of growing our businesses,” Griffin said, “but the trade war has shifted our focus to managing supply chains and sourcing goods strategically across the globe.”
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