EddieJayonCrypto
25 Sep 25
Billionaire Ken Griffin criticizes Trump's tariff deals as 'anti-American crony capitalism,' arguing they harm lower-income households and create a rigged system where corporations game the system for favors. His warnings about political favoritism spark a heated debate on government's role in busin...
**Citadel’s Ken Griffin Slams Trump’s Tariff Deals as “Crony Capitalism”** Ken Griffin, the billionaire CEO of Citadel, didn’t hold back during a recent interview with CNBC, calling out the Trump administration’s practice of striking backdoor deals with corporations to bypass tariffs as “anti-American” and a dangerous form of crony capitalism. His remarks, made during a visit to Miami, paint a stark picture of a system where political favoritism undermines fairness and innovation. Griffin’s criticism centers on the Trump administration’s approach to tariffs, which he likened to a “national sales tax.” “The line outside the White House of every business arguing why they should be exempt from paying tariffs on what they import into their products is nauseating,” he said. The CEO argued that such policies disproportionately burden lower-income households, as tariffs eat a larger chunk of their budgets. “There are issues of equity and fairness,” he added, highlighting the regressive nature of the policies. The controversy stems from companies like Apple and Nvidia, which have announced major domestic investments in recent years. Critics view these moves as strategic efforts to secure favorable treatment from the Trump administration, avoiding the steepest import levies. Griffin called this “picking winners and losers,” warning that such interference by the government creates a toxic environment for businesses. “When the state becomes involved in picking winners and losers, there’s only one way this game ends: All of us lose,” he said. But Griffin’s concerns extend beyond the current administration. He cautioned companies against relying on political favors, noting that such deals could backfire when a new president takes office. “It’s the government’s engagement in picking winners and losers. And we should tread carefully on that water,” he said, comparing the political landscape to a “crocodile-infested swamp.” His message: Innovation shouldn’t hinge on lobbying prowess. The comments come amid broader debates about the role of government in the economy. While some argue tariffs protect domestic industries, Griffin’s perspective underscores the risks of a system where corporate interests dictate policy. As he put it, “The core competency won’t be that you can drive innovation. It’s that you can drive the right favors from D.C.” What do you think? Is government intervention in business ever justified, or does it always risk creating a cycle of favoritism? The debate over tariffs and corporate influence shows no signs of slowing—yet Griffin’s warning remains clear: When politics and profit collide, the cost is felt by everyone.