Ken Griffin rips Biden for ‘incoherent’ policy on China tariffs, says Trump would be a strong president
NY Post
Ken Griffin lashed out at President Biden over his “incoherent” economic policies though he said he is waiting to see who Donald Trump picks as his running mate before deciding whether to financially back the presumptive Republican nominee.
Griffin, the founder and CEO of $63 billion hedge fund Citadel, criticized the Biden administration’s decision to raise tariffs on Chinese-made electric vehicles to 100% – roughly quadrupling the old tariff rate of 25%.
The tariffs on Chinese EVs, which are more affordable than Western-made models, effectively kept them out of the US market.
Griffin told a Bloomberg conference in Qatar on Tuesday that the tariffs were a “continuation of the incoherent economic policies of the Biden administration”
“We’ve seen this giant push toward green energy over the course of the last several years and, at the same time, a set of policies that run completely contrary to the stated goal of trying to head toward a zero carbon world,” Griffin, who has a net worth valued by Bloomberg Billionaires Index at more than $38 billion, said on Tuesday.
“Placing enormous tariffs on Chinese EVs which are low cost, high quality and of great value to American consumers is yet another part of the incoherent Biden economic strategy.”
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