Ken Griffin calls Trump’s tariffs on US allies 'a disaster' and predicts it will hurt Republicans in the midterms

Citadel CEO Ken Griffin called Trump's tariffs on US allies "a disaster" and said the disputes have been "pro-inflation." Bloomberg/Getty Images Citadel CEO Ken Griffin called Trump's tariffs on US allies "a disaster" and "pro-inflation." Griffin predicts Republicans would lose at least one chamber in the midterms.

Inflation has erased nearly all average workers' hourly wage gains since Trump returned to office.

Ken Griffin sees trouble ahead for Republicans and says Donald Trump’s fights with America’s allies are part of the problem.

The Citadel CEO told Bloomberg's Dani Burger on Tuesday at the Future of Global Markets Conference in New York that Trump’s tariffs have fueled inflation and disrupted supply chains as the party heads toward a difficult midterm election.

“I think that the tariff battles with Canada, with Europe, with our allies has just been a disaster,” Griffin said.

“I talked about this when he first started this in his presidency.

To be blunt, I hate to say it, but I've been right.” “It's been pro-inflation.

It has certainly taken supply chains around the world and severed them,” Griffin, who said he has been supporting a number of Republican candidates this election cycle, added.

Trump's trade disputes with Canada and the EU remain unresolved.

The president announced an additional 50% tariffs on certain imports from Canada on July 20, citing what he described as discrimination against American auto, alcohol, and dairy exports.

Those duties took effect in August.

The economic backdrop is also challenging.

US consumer prices rose 3.7% in September from a year earlier, while inflation has erased nearly all of the average worker’s hourly wage gains since Trump returned to office.

Fuel affordability and the lack of housing supply have become pain points for Republicans in the midterms.