According to Citadel CEO and founder Ken Griffin, US President Donald Trump’s policies are making the country poorer and damaging the reputation of US assets. Griffin stated that while the president may have identified real issues, his approaches to solving them are not effective and unlikely to rejuvenate American manufacturing. Previously, Griffin noted that no brand compared to US Treasurys, the strength of the US dollar, or the nation’s creditworthiness. However, Trump’s tactics have eroded this reputation. Griffin warned that repairing the damage could take a lifetime. Investors have recently sold off US stocks and Treasurys due to Trump’s inconsistent tariffs on imports. Griffin also expressed concern about whether officials can maintain the US’s global stature. He questioned how countries like Canada and regions like Europe perceive the US now compared to two months ago. Griffin likened the situation to Harvard, stating that attacks on such esteemed institutions diminish America’s preeminent brands.
— new from Semafor