GOP Megadonor Ken Griffin Says Trump’s Tariffs Are Hurting Americans, Not Foreign Countries
At the World Economic Forum in Davos this week, Republican megadonor and Citadel CEO Ken Griffin openly criticized President Donald Trump’s tariff policies without softening the blow. He confirmed that the money raised by Trump’s tariffs “has really come at the expense of the American people,” saying consumers not foreign producers are bearing the burden.
Griffin’s remarks raised immediate conflict within GOP ranks: a top Republican donor publicly challenging a signature Trump economic initiative signals widening unease among business leaders. His critique adds fuel to debates over whether the tariff strategy is economically sustainable.
According to reporting, Griffin said most of the tariff costs are being paid by U.S. households and companies rather than abroad — a point underscored by an economic study showing Americans absorb roughly 96% of tariff costs.
Yet the situation is complicated by geopolitical tensions. Griffin also warned the U.S. has strained relations with European allies, in part due to trade actions tied to Trump’s Greenland push.
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“We’ve obviously increased the amount of cronyism in America and many have prevailed,” Griffin said, highlighting how firms seek tariff exemptions.
His criticism matters because Griffin is a major GOP donor who supported Trump in 2024, a break from expected party unity and a signal to markets and policymakers that elite business confidence may be ebbing.
Next, economic data on inflation and consumer prices could further test whether tariffs ultimately benefit or burden the U.S. economy.
Griffin’s comments underscore a growing rift over trade policy at the highest levels of business and politics.
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