Ken Griffin, Citadel’s CEO, criticized the Trump administration’s tariff exemptions for Apple during a recent Milken Institute conference, underscoring concerns about potential crony capitalism.
Griffin’s remarks highlight worries about economic fairness and market distortions, urging a reevaluation of tariff policies impacting American industries.
Ken Griffin Criticizes Apple Tariff Exemptions
Ken Griffin has raised concerns over the exemption of tariffs for Apple. During a recent event, he criticized the US policy for allowing market distortions and promoting crony capitalism, contrary to promises made to American workers.
Griffin highlighted that tariffs create biases by picking winners, like Apple, affecting fair competition. He pointed out previous promises that such policies undercut. Apple’s stance remains unstatemented, though past gratitude towards tariff exemptions is known.
Market Impact Reflects on Indices, No Crypto Change Detected
The market reaction so far includes declines in major stock indices, with ETFs like QQQ and SPY reflecting this trend. No immediate shifts in institutional funding or related asset flows due to the exemptions have been observed.
Griffin warned these policies can cause market distortions, leading to unfair competitiveness. Despite his concerns, no crypto-related impacts have emerged, as this situation affects equities and trade policy rather than digital assets.
Historical Exemption Policies Show Long-Term Economic Risks
Similar exemptions during the 1970s revealed adverse economic outcomes. Griffin cited these events to demonstrate the long-term market instability caused by government interference in fiscal policies.
Experts warn that ignoring such history can lead to persisting market imbalances. Griffin’s perspective highlights how favoritism could undermine confidence and competitiveness across the broader economic landscape.
Ken Griffin, CEO, Citadel, “Tariffs open the doors to crony capitalism. The government starts to pick winners and losers.”
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
