Citadel's Griffin Warns GOP Midterm Prospects Dim, Calls Trump Tariff Wars a 'Disaster'

Ken Griffin, CEO of Citadel, said Republicans face a difficult midterm election outlook, calling Trump's tariff wars with allies "a disaster" that fueled inflation and disrupted global supply chains. He spoke Tuesday at the Future of Global Markets Conference in New York. Griffin predicted Republicans will almost certainly lose control of at least one chamber of Congress, describing the House as "in a very difficult position" and Senate races as "very tight." He also criticized last year's tax cuts as a mistake by congressional Republicans and Trump, saying the government lacked fiscal room to extend them amid debt exceeding $40 trillion. He cited September CPI at 3.7% year-over-year, with inflation having nearly erased hourly wage gains, and noted fuel affordability and housing shortages as Republican vulnerabilities. Trump imposed 50% tariffs on some Canadian imports on July 20, effective in August, citing discrimination against U.S. autos, liquor and dairy exports. Griffin also called the administration's immigration approach "shameful."