"Citadel CEO Ken Griffin warned the White House against exempting big firms from tariffs, saying it risks "crony capitalism" and unfairly favoring powerful companies. He argued tariffs act as a regressive tax on lower- and middle-income households and cautioned that businesses too closely tied to Trump's administration could face backlash under future leadership. Ken Griffin been something of a critical friend to the White House since President Trump won the Oval Office."
"Griffin, the CEO of Citadel ($400-plus billion assets under management), was open about the fact he voted for Trump in last year's elections and would do what he could to support the administration, but has cautioned the president about certain policies in the months since. This has included warning the White House against intervening too closely with central bank policy, and raising questions about some aspects of tariff policy."
Ken Griffin warned against exempting large firms from tariffs, saying such exemptions risk crony capitalism and unfairly favor powerful companies. He argued tariffs function as a regressive tax that disproportionately burdens lower- and middle-income households. He cautioned that businesses closely tied to the Trump administration could face political backlash under future leadership. Griffin has been a supportive yet critical backer of Trump, having voted for him and offered selective counsel. He advised against heavy White House intervention in central bank policy and raised questions about aspects of tariff strategy, urging against preferential treatment for the largest firms.
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