Ken Griffin, CEO of Citadel, says “it's scary to look” because the tariffs open the doors to criminal capitalism

• Titan He warned that tariffs would lead to criminal capitalism because the government is elected by winners and losers. Ken Griffin spoke next to the Milken Institute's global conference Politics Trump administration tariff liberation signals that the US already has “truly – the era of criminal capitalism”.

Ken Griffin, the founder and CEO of Citadel, sounded from the tariff alarm, saying they were already “in the era of criminal capitalism”.

Also talking next to the Milkanen Institute's global conference notice Politics On Thursday, the exchange will take place much faster than he could have expected.

“The tariffs open the doors to capitalism. The government will choose the winners and losers,” Griffin said. “I thought it would play over the years. It is terrible to watch this play over weeks.”

He added that giving the Trump administration for the release of products and industries tariffs indicates that “it is very clear that we already have about – certainly – the era of connected criminal capitalism”.

It reflects Douglas Irwin, an economist at Dartmouth College, who has warned that the so -called mutual tariffs of Trump 'would fill the gender rather than empty it“Because the emphasis of potentially millions of individual rates lobbying would be huge.

After the introduction of 145% of the tariffs last month, the administration issued guidance days, which released widespread categories of key technology imports such as smartphones, chips and other electronics.

And after the announcement of the UK -related transaction framework on Thursday, which reduced the tariffs of British cars, the US automotive industry criticized it for better treatment of UK cars.

“It hurts American car manufacturers, suppliers and automotists. said Matt Blunt, President of the American Board of Politics Council.

Griffin also said Politics His initial high expectations for Trump's second term has decreased in the middle of the trade war, adding that the dollar decreases and lower spending power over the next few weeks.

However, he hopes that Trump will succeed, marking the subtle border between constructive criticism and “just toxic”.

The white house did not react immediately TreasureComment application. However, a spokesman said Politics “President Trump's biggest beneficiaries in America's first rates, tax cuts and deregulation action plan are American employees. President Trump submitted to the

In his time Notes to the Milken conference audience On Thursday, Griffin described the tariffs essentially a regressive tax policy that increases the cost of goods and is “contrary to the promise that the President gave the Americans” to improve his standard of living.

He also doubted how many tariffs could create new production workers in the US, pointing out that only a small number of American employees work in factories, as the economy has become a post-industrial stage, similar to how this century ago dominated agriculture.

Griffin also raised concerns that the administration's fiscal policy is capable of reducing the annual budget deficit from 3% of GDP to 6%, pointing to plans to stop tips and overtime pay taxes.

And while the wave of regulation has stopped under Trump and is a “god of god”, Griffin is not as clear as the amount of deregulation is on its way, because the cleaning of the food chain is also necessary for maintaining well -being.

“So I'm not sure how much we can turn back the weight of the adjustment,” he added. “But stopping the Biden administration is simply incredibly powerful for American entrepreneurship.”

This story was originally reflected on Fortune.com