Ken Griffin: “Tariff costs are borne by the American public and companies, not the US government”
JH Kim
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Summary
- Ken Griffin said that US tariff policy is shifting the cost burden onto American consumers and US companies.
- He said the tax burden from tariffs is being borne by both American consumers and American companies, and that Washington’s tariff proceeds have been secured at the expense of the American people.
- He also said judging policy effectiveness solely by the increase in tariff revenue can be misleading, stressing that tariffs are structured to weigh on the domestic economy.
Ken Griffin, founder of Citadel, said US tariff policy is ultimately shifting the cost burden onto American consumers and businesses.
According to Walter Bloomberg, an economics breaking-news account, Griffin said in an interview with CNBC on the 21st (local time) that “the latest research shows that the tax burden from tariffs is being shouldered by both American consumers and American companies,” adding that “the funds Washington has raised through tariffs have ultimately been secured at the expense of the American people.”
He stressed that tariffs are structured to weigh on the domestic economy rather than overseas, and said that assessing policy effectiveness solely on the basis of rising tariff revenue can be misleading.
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