Key Takeaways
- • Citadel founder and CEO Ken Griffin said tariffs would not efficiently rebuild U.S. manufacturing, challenging President Trump's claim that tariffs would bring back factory jobs.
- • Speaking at the Citadel Securities Future of Global Markets conference in New York on Oct. 20, Griffin called tariff battles with Canada, Europe and other U.S. allies "a disaster" and described the approach as "pro-inflation."
- • Griffin advocated robotics-driven production as the path to expanding domestic manufacturing, arguing most people do not want factory jobs such as apparel production.
- • Griffin and Carnegie Mellon University announced a $3 billion gift on Sept. 30, including $1 billion for the Pittsburgh campus and $2 billion for a planned Miami campus focused partly on advanced manufacturing.
Summary
Citadel founder and CEO Ken Griffin said tariffs would not efficiently rebuild U.S. manufacturing and urged greater use of robotics, directly challenging the premise of President Donald Trump's tariff policy that it would restore factory jobs. Speaking at the Citadel Securities Future of Global Markets conference in New York on Oct. 20, Griffin characterized the tariff battles with Canada, Europe and other U.S. allies as "a disaster," arguing the approach had been "pro-inflation" and had disrupted supply chains.
Griffin contended that the current tariff-led approach would not industrialize the United States efficiently. He pointed instead to robotics as the means of expanding domestic production, saying most people do not want factory jobs making apparel. "Most people don't want to live that dream," he said, urging the country to build production "with robotics running our factories."
Trump had tied tariffs to a promise of more domestic employment and production in his April 2, 2025, announcement, stating, "Jobs and factories will come roaring back into our country." Griffin's remarks questioned that jobs-centered rationale while still calling for more manufacturing capacity in the United States.
Griffin's comments come alongside his philanthropic commitments to manufacturing-related education. Griffin and Carnegie Mellon University announced a $3 billion gift on Sept. 30, comprising $1 billion for the university's Pittsburgh campus and $2 billion for a planned campus in Miami, where advanced manufacturing and industrial transformation are among the focus areas. The proposed Miami campus would occupy more than 35 acres in the city's Wynwood neighborhood, with construction slated to begin in 2027 and first enrollment planned for 2028, pending regulatory approvals.
Griffin contended that the current tariff-led approach would not industrialize the United States efficiently. He pointed instead to robotics as the means of expanding domestic production, saying most people do not want factory jobs making apparel. "Most people don't want to live that dream," he said, urging the country to build production "with robotics running our factories."
Trump had tied tariffs to a promise of more domestic employment and production in his April 2, 2025, announcement, stating, "Jobs and factories will come roaring back into our country." Griffin's remarks questioned that jobs-centered rationale while still calling for more manufacturing capacity in the United States.
Griffin's comments come alongside his philanthropic commitments to manufacturing-related education. Griffin and Carnegie Mellon University announced a $3 billion gift on Sept. 30, comprising $1 billion for the university's Pittsburgh campus and $2 billion for a planned campus in Miami, where advanced manufacturing and industrial transformation are among the focus areas. The proposed Miami campus would occupy more than 35 acres in the city's Wynwood neighborhood, with construction slated to begin in 2027 and first enrollment planned for 2028, pending regulatory approvals.
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