- Griffin denounces tariffs at Stanford, impacting jobs strategy.
- Tariffs don’t revive manufacturing jobs, Griffin suggests.
- Focus should be on competitive sectors like innovation.
Ken Griffin, founder of Citadel, criticized tariffs at Stanford University on April 25, arguing that they won’t restore U.S. manufacturing jobs.
Griffin’s remarks highlight skepticism about tariffs as a useful tool for job restoration, emphasizing a need to concentrate on America’s economic strengths.
Griffin, speaking at Stanford, emphasized that tariffs are ineffective for returning manufacturing jobs to the U.S. Despite Trump’s hopes, he urged focusing on sectors like intellectual property. “These jobs are not coming back to America.”
These jobs are not coming back to America.
The statement by Citadel’s CEO underscores that the labor market is unlikely to see traditional manufacturing job recovery, pointing to the role of automation in job displacement.
Tariff effects have increased costs for U.S. businesses and consumers while not benefiting the labor market. Griffin’s comments did not noticeably affect the cryptocurrency markets on their announcement.
Historically, U.S. tariff policy has minimally influenced cryptocurrency markets unless broader risk appetites shift. Market sentiment in crypto remains unchanged by the latest policy debate.
Potential outcomes could involve shifts toward innovation and technology sectors rather than tariffs as a job recovery strategy. History and data suggest minimal long-lasting effects on crypto from such debates.
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