Ken Griffin says the US government has become a backroom favourite factory and has given his name.
In a live interview with CNBC’s Sarah Eisen in Miami on Thursday, Citadel’s CEO is torn apart by the Trump administration, allowing him to cut what he called “anti-American” and dodge the full tariff load with giants like Apple. “Is our country trying to support us being connected on a large scale? That’s not an American story,” Ken said.
He didn’t stop calling it unfair. Ken warned that the entire system would collapse as Washington begins to choose which companies to win and which companies to lose. “When the state becomes involved in choosing winners and losers, there is only one way this game ends. We all lose.”
And now, that’s exactly what’s happening. A growing number of businesses are appearing in the White House, where small businesses want special exemptions while they eat costs. Ken called the line “nausea.”
Ken slams Apple’s tariffs and Tim Cook’s White House favor
Apple, the world’s most valuable high-tech company, is once again getting the pass. Ken said iPhone makers should be exempt from Trump’s tariffs “100%.” Most of Apple’s hardware is produced in China, with new manufacturing operations being carried out in India and Vietnam.
Still, in addition to the already committed $500 billion after Apple CEO Tim Cook pledged to invest another $100 billion in US suppliers, the Trump administration gave a green light to skip 100% tariffs on semiconductors.
That investment was not all offered by the chef. He also presented Trump with custom-made apple plaques featuring gold bases. “Are we going to continue to support businesses that are connected to big American companies?” he asked, pointing straight to the chronism burned into these types of arrangements.
Cook’s deal follows a pattern that has continued since Trump’s first term, which also avoided tariffs, thanks to a trade deal with China. Ken is dull: This isn’t about policy or competitiveness, it’s about which CEO knows which politicians. And the result, he said, is a dangerous change that will allow businesses to halt innovation and begin lobbying. “Core competency doesn’t mean that we can drive innovation,” he said. “That means you can drive the right kindness from DC.”
Ken warns that the White House’s favor line is trap
Ken said that this kind of government action would set up traps for businesses that are playing the game but not thinking ahead. He warned that companies succumbing to leadership today could get into trouble if a new president takes over. “It’s the government’s involvement in choosing winners and losers, and we should step on that water carefully,” he said. “In fact, we should leave from it. That’s where the crocodile lives.”
He also raises vigilance about how tariffs affect everyday Americans. Ken compared them to national sales tax. They say they spend a large portion of their income on consumer goods, which hurts lower-income households more. “There’s a question of fairness and fairness,” he said.
Despite all the noise, Apple stock is climbing. Earlier this week, it was the last of the megacap high-tech companies of the year. Since the start of the year, it has been just over 1%. Over the past three months, Apple’s stock has skyrocketed over 25%, surpassing the rest of the market. However, after Ken’s Thursday remarks aired, Apple stocks immersed slightly from their highs during the session.
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