Griffin Slams Trump's Tariffs on Allies as 'a Disaster,' Predicts Republican Losses in Midterms
nashnova research
Citadel CEO Ken Griffin publicly slammed Trump's tariffs on allies as "a disaster," saying they fueled inflation and severed supply chains — and predicted Republicans will almost certainly lose control of at least one chamber of Congress in the midterms, a rare public break from one of Wall Street's biggest GOP donors.
What exactly did Griffin say?
Citadel CEO Ken Griffin told the "Future of Global Markets" summit in New York that tariffs on allies like Canada and Europe are "a disaster."
He was blunt: "I talked about this when he first started this. Frankly, I have to admit — I was right."
This means → One of Wall Street's most influential Republican donors is publicly splitting from his own party's president on core economic policy.
Griffin added he is still backing several Republican candidates this election cycle — his target is the policy, not the party.
What damage have the tariffs actually done?
Griffin charged that the tariffs "fueled inflation" and "severed global supply chains."
The data backs him up: U.S. September CPI rose 3.7% year-on-year, eroding nearly all of the hourly wage gains workers saw since Trump returned to the White House.
In plain terms = Wages went up, but prices went up faster — workers' real purchasing power barely moved.
The trade fight is still escalating: Trump announced an extra 50% tariff on some Canadian imports on July 20, which took effect in August.
What does Griffin expect at the midterms?
Griffin predicted Republicans will almost certainly lose control of at least one chamber of Congress.
His words: "The House is in an almost very difficult position, and the Senate will be very close."
This means → He sees the midterms as a check-and-balance vote against the governing party, with tariff-driven inflation and cost-of-living pressure as the biggest political vulnerability.
What else did Griffin criticize?
On the Iran war, he called the administration's messaging "very unpopular," saying the president "has not made the case in a forceful, meaningful way to the American public."
On immigration, he called the government's approach "despicable" and argued for giving immigrants already in the U.S. with stable jobs a pathway to legal status.
This reflects a pragmatic Wall Street stance: back the GOP's pro-business framework, but oppose hardline trade, foreign-policy, and immigration moves that hurt economic growth.
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