Billionaire and prominent Wall Street figure Ken Griffin has voiced his strong opposition to the current administration’s tariff policies, expressing concerns about crony capitalism and the implications for lower-income households. In a recent interview with CNBC’s Sara Eisen in Miami, Griffin elaborated on the issues surrounding tariffs and their disproportionate impact on lower earners.
Griffin, an extremely successful hedge fund manager and investor in his own right, hit the nail on the head. He further noted that tariffs would constitute a larger percentage of household income for families in the lowest quintile. This extraordinary economic burden does raise some very important questions. It has gone further to challenge equity and fairness as central tenants within Trump’s tariff policy.
“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,” Griffin stated. He railed against the policy of corporations trying to get special exemptions. He noted that these practices warp the market and create an unlevel playing field.
During the interview, Griffin issued a stark message to companies. He warned them against attempting to butter up the new White House team, which could lead to pants-on-fire outcomes. He remarked, “It’s the government’s engagement in picking winners and losers. We should tread carefully on that water.”
He further cautioned that government actions can benefit some businesses over others. This more frequently results in damaging, unintended consequences for the broader economy. “When the state becomes involved in picking winners and losers, there’s only one way this game ends: All of us lose,” he cautioned.
Specifically, Griffin took Apple—and the dominance of Big Tech—to the woodshed. He claimed that his company should “100% not” be exempt from tariffs, in part because an exemption would create an uneven playing field. His comments illustrate a growing sense of exasperation among the business community. They are worried about the administration’s use of tariffs and its broader economic effect.