Billionaire Ken Griffin warns that American brands are “eroding”
Ken Griffin is the founder and CEO of Citadel, one of the world’s leading alternative investment companies. On Wednesday, Griffin addressed the impact of the Trump administration’s ongoing tariff policy, warning that the US’s global reputation is at stake.
“The United States is not just a country, it’s a brand,” Griffin said Wednesday in a fireplace chat at his co-chair, Semafor’s World Economy Summit. Griffin said the United States is a desire for most of the world, from its culture to its financial and military strength, but he said “now it’s eroding that brand.”
Griffin’s comments came amid the ongoing fallout from the massive tariffs that President Trump announced on April 2, which caused a market meltdown. Trump returned to part a week later by announcing a 90-day suspension on certain tariffs, but still has a 10% tariff on almost all global imports and a 25% collection on imported cars and certain auto parts. Trump He told reporters The White House on Tuesday said China’s import rate, currently 145%, was “a significant drop, but not zero.”
Griffin has cast the recent economic turmoil caused by the White House in the context of consumers who buy products because they trust the brand, Griffin explained. “In the financial markets, there are no brands that can be compared to US Treasury brands. They put that brand in danger,” he said. Griffin said it takes a very long time to remove discoloration from the brand.
The US government’s fear of changing policies weakened the dollar against other Fiat currencies, but the dollar stabilized as the market was backed up on Tuesday. luck It has been reported. However, 61% of participants in Bank of America’s latest Global Fund Manager Survey prediction The dollar will be in value for money over the next year.
The president, Treasury Secretary Scott Bescent and Commerce Secretary Howard Lutnick “we need to be very thoughtful,” Griffin said. “When you have a brand, you need to behave in a way that respects the brand,” he pointed out.
Several people with presidential ears are in favor of current tariff policies, he said. He added that there is room for discussion about what appropriate policies are and what actions should be taken. “But most importantly, the way we do ourselves, and this doesn’t reduce the height of the United States,” Griffin said.
This story was originally introduced Fortune.com