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OIL: Citadel's Griffin Sees Tariffs Posing Risk to US Growth, Canadian Energy

OIL
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Citadel's Griffin Sees Tariffs Posing Risk to US Growth, Canadian Energy: Reuters

  • Ken Griffin, founder and CEO of investment firm Citadel, said on Tuesday that U.S. President Donald Trump's tariff policy is a risk to economic growth and may force other countries to find new trade alliances, as he criticized Trump's "bombastic rhetoric."
  • "The uncertainty and chaos created by the tariff dynamics between us and our allies is an impediment to growth," he told the audience at a conference hosted by UBS Group. "It makes it difficult for multinationals in particular to think about how to plan for the next five, 10, 15, 20 years."
  • Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% "without exceptions or exemptions," and imposed 10% tariffs on all goods from China while also threatening both Canada and Mexico.
  • Griffin said a tariff on Canada's energy products could force the country to diversify its customer base and find new trading partners, such as China.
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Citadel's Griffin Sees Tariffs Posing Risk to US Growth, Canadian Energy: Reuters

  • Ken Griffin, founder and CEO of investment firm Citadel, said on Tuesday that U.S. President Donald Trump's tariff policy is a risk to economic growth and may force other countries to find new trade alliances, as he criticized Trump's "bombastic rhetoric."
  • "The uncertainty and chaos created by the tariff dynamics between us and our allies is an impediment to growth," he told the audience at a conference hosted by UBS Group. "It makes it difficult for multinationals in particular to think about how to plan for the next five, 10, 15, 20 years."
  • Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% "without exceptions or exemptions," and imposed 10% tariffs on all goods from China while also threatening both Canada and Mexico.
  • Griffin said a tariff on Canada's energy products could force the country to diversify its customer base and find new trading partners, such as China.