Billionaire Trump supporter Ken Griffin: The trade war is destroying America’s brand

Citadel CEO Ken Griffin, a billionaire supporter of President Donald Trump and a megadonor to Republican candidates, had some unusually harsh words for the president about his trade war: It’s hurting America’s standing in the world and eroding the nation’s brand.

Citadel CEO Ken Griffin, a billionaire supporter of President Donald Trump and a megadonor to Republican candidates, had some unusually harsh words for the president about his trade war: It’s hurting America’s standing in the world and eroding the nation’s brand. “The United States was more than just a nation. It’s a brand. It’s a universal brand, whether it’s our culture, our financial strength, our military strength …. America rose beyond just being a country,” Griffin said Wednesday at the Semafor World Economy Summit in Washington. “It was like an aspiration for most the world. And we’re eroding that brand right now.” Griffin, founder of one of the largest hedge funds in the world, said that traders are concerned about parking their investments in the United States – particularly US Treasury bonds – because Trump’s tariffs have destroyed faith that America will remain a trusted and rational actor in global financial markets. “If you think of your behavior as a consumer, how many times do you buy a product with a brand on it because you trust that brand?” Griffin said. “In the financial markets, no brand compares to the brand of the US Treasuries – the strength of the US dollar and the strength and creditworthiness of US treasuries. No brand came close. We put that brand at risk.” Treasury bonds have historically been the ultimate safe-haven asset, backed up by the full faith and credit of the US Treasury. When the going gets tough, investors typically look to the perceived safety of Treasury bonds to park their investments while riskier and more volatile stocks take a tumble. But that hasn’t happened in recent months. As Trump’s trade war has escalated, investors have feared that the United States could inflict significant damage to the global economy – but even more harm to its own economy and perhaps irreparable damage to its own reputation.