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Received today β€” 26 April 2025

Why indie board game companies are teaming up to sue Trump

26 April 2025 at 16:30
Dice in front of four multicolored board game pieces that are (from left) green, yellow, blue, and red.
Several tabletop game companies are teaming up to sue Trump over his tariffs.

mrs/Getty Images

  • Board game companies are suing Trump because they say tariffs are affecting their profits.
  • Stonemaier Games said in the lawsuit it expects to pay "millions" due to tariffs.
  • Trump says the tariffs are meant to boost US jobs, but the cost is often passed on to the consumer.

A group of tabletop game companies is suing President Donald Trump because it says his tariffs are reducing their profits to the real-world value of Monopoly money.

Stonemaier Games, which makes the popular board games "Wingspan," "Rolling Realms," and "Vantage," announced its involvement in the lawsuit this week. The company said the lawsuit would "challenge the unchecked authority" of Trump and his tariffs.

"We will not stand idly by while our livelihoodsβ€”and the livelihoods of thousands of small business owners and contractors in the US, along with the customers whose pursuit of happiness we hold dearβ€”are treated like pawns in a political game," the company said.

Lawyers for Stonemaier, which is based in St. Louis, said in a legal complaint that the company estimates it will pay "millions in tariffs" because it manufactures all of its games in a Chinese factory owned by Panda Game Manufacturing, which is based in Canada. Stonemaier has printed its games in China for more than 13 years, the lawsuit says.

At least nine other companies joined Stonemaier in the lawsuit, saying Trump's tariffs will cause substantial harm to their business. XYZ Game Labs, Rookie Mage, Spielcraft, and TinkerHouse Games are all board game companies that are joining the lawsuit.

Spielcraft, an independent Nebraska-based board game maker, paid $4,335 in tariff fees in April, the lawsuit says.

Other small businesses also joined the suit. Clothing company Princes Awesome, which makes inclusive clothing for children and adults, paid $1,041 for dresses imported from China in March, according to the lawsuit.

"Princess Awesome has also ordered additional products from Peru, Bangladesh, and India that they anticipate will arrive in the United States in the coming weeks and are continuing to place new orders for imports," the complaint says.

Trump and his treasury secretary, Scott Bessent, have said that the tariffs are part of a strategy to increase manufacturing jobs in the United States. But that could take a while. In the meantime, tariffs can raise prices and reduce the dollar's purchasing power, leaving consumers with less money to spend.

Experts told Business Insider that supply chain disruptions caused by the tariffs could cause prices to spike and the availability of goods to decrease in as early as a few weeks.

Pacific Legal Foundation, which is representing the companies in the lawsuit, said in a statement that Trump's tariffs are unconstitutional and that only Congress should have the power to levy tariffs.

"The Constitution gives Congressβ€”not the presidentβ€”the power to impose tariffs because policies affecting an entire nation should come from the body most representative of the entire nation," the statement says. "And Congress cannot delegate that core legislative power to the president."

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Fear of 'looking weak' is all that's stopping the US and China from cutting tariffs, Bill Ackman says

26 April 2025 at 15:33
Ackman, Bill Ackman
Bill Ackman said a 'fear of looking weak' was all that was stopping the US and China from cutting tariffs.

Brian Snyder/Reuters

  • Bill Ackman said a fear of looking weak is preventing the US and China from cutting tariffs.
  • The billionaire hedge fund manager said tariffs should fall to "more reasonable levels" of 10% to 20%.
  • He also questioned the belief that China can "win" a trade war with the US.

Billionaire hedge fund manager Bill Ackman has said that China and the United States should dramatically cut their tariffs on one another, and only the fear of "looking weak" is stopping them.

Ackman, the CEO of Pershing Square who supported President Donald Trump during the election, made the comments as imported Chinese goods entering the United States face a 145% tariff and American goods entering China face a 125% tariff.

A 10% baseline tariff on all imports into the United States remains in effect, while Trump has paused his raft of country-specific tariffs.

Ackman, who thanked Trump for announcing a 90-day pause on his proposed "reciprocal" tariffs earlier this month, posted on X on Saturday that tariffs were "very damaging in the short term to companies that rely on China for a large percentage of their goods."

He added China and the United States should reduce tariffs to "more reasonable levels β€” say 10% to 20% β€” as quickly as possible."

"The only thing stopping the reduction in tariffs to a more sensible level is the fear on the part of both countries' leadership of looking weak," he said.

"A pause, however, would not be a sign of weakness because it requires both countries to take down their tariffs. It is just common sense," he added.

Ackman also questioned the view that China could "win" a trade war with the United States.

"The problem with this assessment is that, the longer the tariffs persist, the more rapidly every company that has a supply chain based in China relocates it to India, Vietnam, Mexico, the U.S. or some other country," Ackman wrote.

"This is true for US and non-US companies. As a long-term player, China must understand this dynamic," he continued.

Ackman added that whatever happened, companies would no longer be willing to keep their supply chains in China. "That cake is already baked," he added.

Trump and China's leadership made conflicting statements this week about the status of trade talks.

"We're meeting with China," Trump said in an interview with "Time" magazine, which was published on Friday but held on Tuesday.

On Thursday, two Chinese officials said there were no ongoing talks.

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Tech billionaires courted Trump ahead of his return to office. Here's how their relationships have changed since.

26 April 2025 at 15:20
Tech company CEOs at Trump's inauguration day.
Many tech company CEOs attended Trump's inauguration, from Mark Zuckerberg to Jeff Bezos.

SHAWN THEW/via REUTERS

  • Many tech leaders tried to get close to Trump after the election, donating to his inaugural fund.
  • One expert told BI that, since then, it's been a "rocky road" for Silicon Valley leaders and Trump.
  • Here's where some of tech's big names β€”Β and businesses β€” stand with the president a few months in.

Some of the biggest tech leaders tried to get in President Donald Trump's good graces before he took office for a second time, meeting with him at his Mar-a-Lago resort and snagging prime spots at Trump's inauguration.

A few months into his presidency, many of those tech leaders are now dealing with tariffs and other disruptive policies, like immigration restrictions and funding cuts, that could impact their bottom lines.

At the time of writing, Trump had exempted many electronics from the harshest levies on China and instead said they would be moved to a different tariff "bucket" in the future. Yet other tariffs have caused US CEOs to pause spending and hiring, and they could make it more expensive to build AI data centers.

The stocks of all publicly listed companies included here have dropped since the inauguration, as has the benchmark Standard & Poor's 500 index and the tech-heavy Nasdaq Composite.

Darrell West, a senior fellow in the Center for Technology Innovation at the nonpartisan Brookings Institution, said some of the tech leaders have "probably been disappointed."

"The tech leaders had a buddy-buddy relationship with Trump early in the administration, but since then, it has been a rocky road," he said. Moving forward, he anticipates that tech leaders will still try to remain close to Trump, even if it doesn't guarantee returns.

"The fact that he meets with CEOs does not mean that he follows the advice they give him," he said.

Here's where some of the biggest tech leaders β€” and their companies β€” stand with the president now.

Representatives for Meta, Nvidia, and Amazon declined to comment to Business Insider. Representatives for the White House and other companies did not respond to a request for comment from BI.

Elon Musk: Tesla, SpaceX, xAI, X, Boring Company, Neuralink
Elon Musk.
Elon Musk has remained close to Trump but announced that he'll be stepping back from DOGE.

Andrew Harnik/Getty Image

Elon Musk spent at least $277 million backing Trump and Republicans during the election, has influenced policy and personnel decisions, and is the face of the White House DOGE Office β€” for now.

The world's richest man has remained close to the president in the months since, but his involvement in Washington seems to be waning. Americans are souring on his political involvement, according to public opinion polls, and he has been viewed by some as a political liability. During a Tesla earnings call in April, Musk announced that he would be stepping back from DOGE and devoting more time to Tesla.

Tesla has suffered since Trump took office due to aΒ widespread protest movementΒ andΒ plummeting sales. Musk has publicly criticized Trump's tariffs but said on the earnings call that Tesla is generally "the least affected car company" when it comes to levies. SpaceX could also benefit from new government contracts.

Other than Tesla, Musk's companies are privately held.

Mark Zuckerberg: Meta
Mark Zuckerberg
The FTC is suing Mark Zuckerberg's Meta in a landmark anti-trust case.

Chris Unger/Zuffa LLC via Getty Images

Mark Zuckerberg and Trump have a tumultuous history, but the Facebook founder has recently tried to patch things up. The Meta CEO called Trump a "badass" before the election and ended fact-checking on Meta platforms. The company donated $1 million to the inaugural committee.

Court proceedings recently began in the Federal Trade Commission's blockbuster trial against Meta. The government is trying to force Meta to sell Instagram and WhatsApp, arguing that the company operates as an illegal monopoly. Zuckerberg was the first witness and testified for hours.

Before the trial, Zuckerberg tried to have the suit dismissed. The FTC asked for $30 billion to settle, but Zuckerberg offered only about $1 billion, according to The Wall Street Journal.

Meta could also take a hit from tariffs, since Chinese advertisers buy ads on its platforms. The company could lose $7 billion in ad revenue, the Journal reported.

Sundar Pichai: Alphabet
Sundar Pichai
Sundar Pichai's Google is locked in a legal battle with the Justice Department.

Getty Images

Alphabet CEO Sundar Pichai visited Trump at Mar-a-Lago after the election, and Google donated $1 million to the inauguration fund.

The company hasn't been spared from lawsuits β€” in April, the Department of Justice kicked off a remedy hearing for Google, where it will decide the company's fate after a previous ruling that it's a monopoly. One proposed solution is separating Chrome, Google's flagship search engine. Google has said it intends to appeal the case, and an executive said in a blog post that the DOJ's proposed solutions are "unnecessary and harmful."

Alphabet, Google's parent company, reported first-quarter earnings on April 24 and exceeded initial revenue expectations despite market volatility.

Jensen Huang: Nvidia
Jensen Huang wearing leather jacket, AI written on background behind him
Nvidia CEO Jensen Huang didn't attend Trump's inauguration but met with the president shortly after.

Patrick T. Fallon / AFP

Unlike many of his counterparts, Nvidia CEO Jensen Huang did not attend Trump's inauguration. He spent the day celebrating Lunar New Year with employees in Asia. He met with Trump shortly after, however, and Nvidia donated $1 million to the inaugural committee.

The chipmaker sources many of its semiconductors abroad, primarily in Taiwan, making the trade environment tricky. Yet in a March interview with CNBC, Huang sounded relatively calm about tariffs, saying that he's "enthusiastic" about building in the US and that "in the near term, the impact of tariffs won't be meaningful."

Morgan Stanley said in April that Nvidia was still its "top pick" in the market.

Tim Cook: Apple
Tim Cook in navy shirt
Apple CEO Tim Cook personally donated $1 million to Trump's inaugural fund.

Beata Zawrzel/NurPhoto via Getty Images

Apple CEO Tim Cook personally donated $1 million to the inaugural committee and attended the event. He also had dinner with Trump at Mar-a-Lago after the election.

Apple is vulnerable to tariffs as the company manufactures many of its products in China. Analysts predicted that the original tariffs could massively drive up iPhone prices; It remains unclear exactly how prices will change in the fluctuating trade environment. The company is ramping up production in India.

Democratic Sen. Elizabeth Warren of Massachusetts sent Cook a letter asking for more information about his reported efforts to get specific tariff exemptions. She wrote that they "raise fresh concerns" about corporations' abilities to "gain special favors."

Jeff Bezos: Amazon
Jeff Bezos.
Amazon founder Jeff Bezos decided not to have the Washington Post endorse a presidential candidate.

AP Photo/John Loche

In addition to his role as the founder and executive chairman of Amazon, Bezos also owns The Washington Post. During the most recent election, he sparked controversy by deciding that the WaPo wouldn't endorse a candidate.

After Trump won, Bezos had dinner with Trump and Musk at Mar-a-Lago. Amazon donated $1 million to the president's inaugural committee, and Bezos and his fiancΓ©e attended the inauguration.

Amazon is facing an ongoing antitrust lawsuit from the FTC and tariffs look set to affect it. Some Amazon sellers have had to raise prices, though a representative for the company previously told BI only a "tiny fraction of items in our store" have been impacted.

Shou Zi Chew: TikTok
TikTok CEO Shou Zi Chew testifying at Capitol Hill.
TikTok CEO Shou Zi Chew attended Trump's inauguration.

Chip Somodevilla via Getty Images

TikTok is running up against the clock β€” Trump has repeatedly paused enforcement of a US ban to try and broker a deal with potential bidders for the company in America.

CEO Shou Zi Chew, the company's CEO, met with Trump in December and attended the inauguration. TikTok spent $50,000 on an inauguration party for Gen Z and influencers that helped spread the president's campaign message. The app's future remains uncertain.

TikTok is owned by ByteDance, a privately owned Chinese company.

Sam Altman: OpenAI
Sam Altman, the co-founder and CEO of OpenAI.
Sam Altman announced that OpenAI is part of Stargate, a $500 billion AI infrastructure investment.

Sean Gallup/Getty Images

OpenAI CEO Sam Altman personally gave $1 million to Trump's inaugural fund and attended the event. He also visited the White House early in Trump's term to announce Stargate, a $500 billion private-sector AI infrastructure investment that spurred a public spat with Musk.

The company gave the White House recommendations for an "AI Action Plan" due to be submitted to Trump in July and advocated for a light regulatory environment.

OpenAI is a privately held company. At the end of March, it announced a new funding round that put its valuation at $300 billion.

Satya Nadella: Microsoft
Satya Nadella, CEO of Microsoft.
Microsoft CEO Satya Nadella didn't attend Trump's inauguration.

Jason Redmond / AFP/ Getty Images

Microsoft CEO Satya Nadella didn't attend Trump's inauguration but did congratulate him online, like many other tech leaders. Microsoft donated $1 million to the inaugural fund.

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Trump and Zelenskyy met ahead of the Pope's funeral — their first encounter since their White House clash

26 April 2025 at 13:54
Donald Trump and Volodymyr Zelenskyy pictured together at St. Peter's Basilica.
Β 

HANDOUT/Telegram /@ermaka2022/AFP via Getty Images

  • Trump and Zelenskyy met at the Vatican before Pope Francis' funeral.
  • This was their first meeting since a heated exchange at the White House in February.
  • "Very symbolic meeting that has potential to become historic," Zelenskyy later wrote on X.

Donald Trump and Ukrainian President Volodymyr Zelenskyy met on Saturday β€” their first encounter since a heated exchange at the White House two months ago.

The two leaders held a discussion inside St. Peter's Basilica, ahead of the Pope's funeral, with French President Emmanuel Macron and UK Prime Minister Keir Starmer present during the initial moments.

Zelenskyy and Trump had not met since their heated exchange in the Oval Office on February 28, in which Trump said of Ukraine's war against Russia, "You're either going to make a deal or we're out."

US President Donald Trump pointing his finger at Ukrainian President Volodymyr Zelenskyy while the pair sit on armchairs and talk.
Trump and Zelenskyy's meeting in Rome was their first since their clash in the Oval Office on February 28.

Brian Snyder/REUTERS

Four days later, Trump announced a pause in US military aid, and the EU declared "an era of rearmament," as it unveiled a defense funding boost.

The Oval Office meeting was in the glare of the world's press, but photos of the Rome meeting show Trump and Zelenskyy seated close together, without aides or interpreters.

Andrii Yermak, a senior aide to Zelenskyy, shared a photo of the leaders in St. Peter's Basilica on Telegram. "Constructive," he wrote.

Steven Cheung, White House communications director, called it a "very productive discussion."

Posting X, Zelenskyy said the encounter had been a "good meeting."

"We discussed a lot one on one. Hoping for results on everything we covered. Protecting lives of our people. Full and unconditional ceasefire. Reliable and lasting peace that will prevent another war from breaking out. Very symbolic meeting that has potential to become historic, if we achieve joint results," he said.

The Rome meeting comes after Steve Witkoff, Trump's designated peace envoy, travelled to Moscow for discussions with Russian President Vladimir Putin.

Kremlin advisor Yuri Ushakov said the talks centered on "the possibility of resuming direct negotiations between Russia and Ukraine."

Following Witkoff's return, Trump said on Truth Social that "most of the major points are agreed to" and that a cease-fire deal between Kyiv and Moscow was "very close."

As he prepared to leave for Rome on Friday, Trump told reporters that the talks were "very fragile." He has also warned that the US might halt its mediation efforts if a deal isn't reached soon.

After the meeting on Saturday, Zelenskyy was greeted with applause when he walked out of St Peter's Basilica after paying his respects in front of the pontiff's coffin.

Trump later wrote a long post on Truth Social, in which he called the war in Ukraine "Sleepy Joe Biden's War, not mine. It was a loser from day one."

The long post ended, "There was no reason for Putin to be shooting missiles into civilian areas, cities and towns, over the last few days. It makes me think that maybe he doesn't want to stop the war, he's just tapping me along, and has to be dealt with differently, through "Banking" or "Secondary Sanctions?" Too many people are dying!!!"

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Received before yesterday

Trump is β€œdesperate” to make a dealβ€”China isn’t, analysts say

23 April 2025 at 18:42

Donald Trump has started signaling that he's ready to slash tariffs on Chinese imports, but economists have warned that the US softening its stance now likely cedes power to China, which perhaps benefits from dragging out trade talks.

On Tuesday, Trump confirmed that he is willing to reduce 145 percent tariffs on all Chinese imports. A senior White House official told The Wall Street Journal that the tariffs may come "down to between roughly 50 percent and 65 percent." Or perhaps the US may use a tiered approach, charging a 35 percent tax on goods that don't threaten national security, while requiring 100 percent tariffs on imports "deemed as strategic to America’s interest," other insiders told the WSJ.

For now, Trump is being vague, only confirming that tariffs "won't be that high" or "anywhere near" 145 percent. Attempting to maintain a tough veneer, Trump warned that China must act quickly to make a deal to end the trade war or else risk making concessions that China may not consider ideal.

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Universities (finally) band together, fight β€œunprecedented government overreach”

22 April 2025 at 22:51

Last Friday, in an op-ed piece on the Trump administration's war on American universities, we called for academia to 1) band together and 2) resist coercive control over hiring and teaching, though we noted that the 3) "temperamental caution of university administrators" means that they might "have trouble finding a clear voice to speak with when they come under thundering public attacks from a government they are more used to thinking of as a funding source."

It only took billions of dollars in vindictive cuts to make it happen, but higher education has finally 1) banded together to 2) resist coercive control over its core functions. More than 230 leaders, mostly college and university presidents, have so far signed an American Association of Colleges and Universities statement that makes a thundering call gentle bleat for total resistance "constructive engagement" with the people currently trying to cripple, shutter, and/or dominate them. Clearly, 3) temperamental caution remains the watchword. Still, progress! (Even Columbia University, which has already capitulated to Trump administration pressure, signed on.)

The statement largely consists of painful pablum about how universities "provide human resources to meet the fast-changing demands of our dynamic workforce," etc, etc. As a public service, I will save you some time (and nausea) by excerpting the bits that matter:

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What's really going on with Pete Hegseth and the Pentagon

23 April 2025 at 19:42

A vicious rivalry at the Pentagon could be the reason Defense Secretary Pete Hegseth's job is in jeopardy. We explore the drama in this video collaboration between Politico and Business Insider.

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Elon Musk is stepping back, but DOGE's work is far from over

23 April 2025 at 17:40
Elon Musk.
Elon Musk has remained a fixture in Washington since the start of President Donald Trump's second term.

Graeme Sloan for The Washington Post via Getty Images

  • Elon Musk is set to dial back his work with DOGE in the coming weeks.
  • The White House DOGE office's push to pare down the federal workforce will continue.
  • DOGE is set to roll out a key visa effort as it also faces litigation over its work.

Elon Musk may be winding down his work with the Department of Government Efficiency, but that doesn't mean the cost-cutting task force will be ending any time soon.

Musk, the chief executive of both Tesla and SpaceX, announced on Tuesday that he'd be reducing his presence at the White House DOGE office down to one or two days a week so he can focus more of his time on Tesla β€” which during the first quarter of 2025 saw its earnings plunge 71% year over year.

In the three months since President Donald Trump established the initiative, unofficially led by Musk, it has worked quickly to reduce government spending and gut the federal workforce.

In its attempt to fulfill its stated purpose of rooting out fraud, waste, and abuse, DOGE has targeted nearly every federal agency.

But DOGE's work is far from over, and in some ways, it's still just getting started.

DOGE-driven RIFs and agency consolidation will continue to reshape the federal workforce

For weeks, Musk's work with DOGE has generated waves of controversy, with many Americans supportive of reform efforts but less willing to back the task force's more aggressive actions in reorienting government departments and agencies.

DOGE has so far set in motion thousands of layoffs.

As of early April, the White House DOGE office's work has led to over 216,000 firings, according to a report by Challenger, Gray & Christmas.

The cuts will likely continue.

The IRS could lose nearly a quarter of its workforce, according to The New York Times. There's ongoing litigation regarding DOGE's moves to shut down the Institute of Peace, whose funding is appropriated by Congress. And thousands of jobs could be cut across the Departments of Defense and Health and Human Services this year.

Efforts to overhaul and eliminate offices within the State and Justice departments have also been outlined by the administration, moving them closer to the ideological standards set forth by Trump.

Even though Musk will dial back his presence in Washington, his mission of a smaller government isn't leaving the DOGE office.

DOGE has plenty of fights left in court

The legal challenges against many of DOGE's actions β€” which make up a chunk of the dozens of lawsuits filed against the Trump administration β€” are just ramping up.

One lawsuit that's likely to have a major impact on DOGE's future β€” and could determine just how much transparency DOGE is required to give β€” was filed by the nonprofit watchdog group Citizens for Responsibility and Ethics in Washington in February.

CREW's suit demands that DOGE provide greater transparency into its operations, alleging that DOGE is breaking federal law by not disclosing its records under the Freedom of Information Act.

Last week, the federal judge overseeing the case issued a preliminary injunction granting CREW a partial victory.

Judge Christopher Cooper found that despite DOGE's arguments to the contrary, DOGE acts like a typical government agency and thus is likely subject to federal laws mandating records disclosure. Cooper ordered DOGE to provide CREW with the documents and answers it had requested, including internal emails between DOGE and the Office of Management and Budget.

Cooper also ordered DOGE's official administrator, Amy Gleason, and the leader of DOGE's daily operations, Steven Davis, to provide depositions within 24 days.

A number of other lawsuits have sought to hamstring DOGE's power over the federal bureaucracy.

In another ongoing case, the Center for Taxpayer Rights, along with several other groups, sued the Internal Revenue Service alleging that DOGE had illegally accessed sensitive taxpayer data and systems at the IRS. The outcome of the case could determine just how much authority DOGE has as it seeks to access the personal data of Americans held by federal agencies.

And in National Treasury Employees Union v. Vought β€” which was filed by the union after the administration fired Consumer Financial Protection Bureau employees β€” a temporary injunction is currently in place blocking the administration from disbanding the agency.

DOGE's next big move may be revenue-generation

The White House DOGE Office is currently developing a system where special immigration visas dubbed as "gold cards" will be issued by the US, replacing the EB-5 visa.

The cost for each card? $5 million.

It's part of what the Trump administration has outlined as a way for highly affluent non-US residents to work in the country and gain a pathway to citizenship.

"They'll have to go through vetting, of course, to make sure they're wonderful world-class global citizens," Howard Lutnick, the commerce secretary, said in February. "The president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit."

The New York Times reported that Musk is working on the software, with the effort being headed by DOGE staffers Marko Elez and Edward Coristine.

Lutnick said the gold card would be unveiled sometime in the coming days.

Its implementation could serve as a lasting legacy of Musk's DOGE tenure.

The White House and DOGE did not immediately respond to requests for comment from Business Insider.

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Ken Griffin says Trump is 'eroding the American brand'

23 April 2025 at 16:50
Ken Griffin speaks during Semaphor's World Economic Summit in Washington.
Citadel CEO Ken Griffin is one of the Republican Party's largest donors. He's not sold on President Donald Trump's first 100 days.

Kayla Bartkowski/Getty Images

  • Citadel CEO Ken Griffin gave President Donald Trump a "mixed" review for his first 100 days.
  • Griffin has repeatedly expressed unease with Trump's tariffs.
  • The billionaire said on Wednesday that Trump's policies are putting the US "brand" at risk.

Citadel CEO Ken Griffin said President Donald Trump's trade war is killing Wall Street's animal spirits vibes and tarnishing the US brand more broadly.

"How does Canada feel about our country today versus two months ago?" Griffin said during an interview at Semafor's World Economy Summit in Washington. "How does Europe feel about the United States today versus two months ago? "

Griffin said that Trump's actions have unnerved financial markets and weakened confidence in US Treasuries, "eroding" the most powerful brand.

"We put that brand at risk," he told Semafor senior editor Gina Chon. "And, as you and I both know, it could take a very long time to remove the tarnish from the brand."

On April 9, Trump announced a 90-day pause on most of his "reciprocal tariffs" after financial and bond markets were roiled for a week after his announcement. The White House said it has continued to impose high tariffs on China because, unlike other countries, Beijing retaliated to the president's move.

Griffin said he took solace in Treasury Secretary Scott Bessent's signals that the US and China may be able to work out a trade deal. Bessent said on Thursday that there's an "opportunity for a big deal," optimism that reverberated in trading.

As of midday, the Dow Jones Industrial Average and the S&P 500 are up slightly.

Griffin said overall, Trump's first 100 days have been "mixed." The billionaire praised the White House's quick action on immigration, removing diversity requirements, and pushing European allies to pay more for their defense. Griffin said the speed of Trump's moves has led to "some missteps."

"We're moving too quickly, we're moving too haphazardly, and we're breaking a lot of glass in trying to solve problems these very real problems," he said.

One of the Republican Party's biggest donors, Griffin supported former UN ambassador Nikki Haley in the 2024 GOP presidential primary. He gave Trump positive marks for immigration, removing diversity requirements and pushing European allies to pay more for their defense.

Like some others on Wall Street, Griffin reacted positively to Trump's win. But Griffin said Trump's trade policies are reducing the once vibrant optimism.

"I think all of us we're looking forward to four years to really grow our businesses," Griffin said. "Unfortunately, the trade war, which has devolved into a nonsensical place, means we're spending time thinking about supply chains, thinking about strategically how we're going to source goods around the world."

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Trump threatens to spike chipmakers’ costs by billions as China mulls exemptions

16 April 2025 at 16:48

The semiconductor industry is bracing to potentially lose more than $1 billion once Donald Trump announces chip tariffs.

Two sources familiar with discussions between chipmakers and lawmakers last week told Reuters that Applied Materials, Lam Research, and KLAβ€”three of the largest US chip equipment makersβ€”could each lose about "$350 million over a year related to the tariffs." That adds up to likely more than $1 billion in losses between the three, and smaller firms will likely face similarly spiked costs, estimating losses in the tens of millions.

Some chipmakers are already feeling the pain of Trump's trade war, despite a 90-day pause on reciprocal tariffs and a tenuous exception for semiconductors and other electronics.

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Trump exempts smartphones, laptops, and semiconductors from new tariffs

12 April 2025 at 17:11
The Trump administration is carving out big tariff exemptions for the tech industry. While President Donald Trump said Wednesday that he would delay many of the market-shaking tariffs that he’d announced the previous week, he kept a universal baseline 10% tariff in place, while also increasing tariffs on Chinese goods to 125% (on top of […]

Fans praise new 'SNL' spoof that sees Trump world check into 'The White Lotus'

13 April 2025 at 12:38
The pre-taped "SNL" sketch saw James Austin Johnson return as the US president to fill the role of Jason Isaac's beleaguered financier character on the HBO show.
James Austin Johnson returned as President Donald Trump.

NBC

  • The latest episode of "SNL" saw Trump world meet "The White Lotus."
  • James Austin Johnson returned as Trump, parodying Jason Isaac's beleaguered financier from the HBO show.
  • The spoof seems to have been a hit with fans, with many calling it the shows funniest skit in some time.

"Saturday Night Live" continued to roast key White House figures in this weekend's episode, which saw President Donald Trump and his inner circle checking in to the "The White Lotus."

Retitled "The White POTUS," James Austin Johnson returned as the US president, parodying Jason Isaac's beleaguered financier from the HBO show.

In the wake of the real president's tariff announcements β€” which have sparked chaos in global financial markets β€” Johnson's caricature of Trump is seen numbing his pain with a prescription bottle of chicken nuggets and threatening to shoot Uncle Sam himself (Andrew Dismukes).

As Johnson's Trump fights an existential crisis at the breakfast table (Chloe Fineman), playing his wife Melania but embodying Parker Posey's iconic character from the show, asks: "Can you imagine how awful it would if America lost all its money and no one respected us anymore?"

"You would never let our economy go to pieces, right, hon?" she continues, as Johnson's Trump's phone pings with a news flash about a tariffs-induced recession.

The pre-taped sketch also saw Mikey Day play Trump Jr., Alex Moffat as Eric Trump, and Scarlett Johansson as Ivanka Trump.

Scarlett Johansson made an appearance as Ivanka Trump in the "White POTUS" sketch.
Scarlett Johansson as Ivanka Trump in the "White POTUS" sketch.

NBC

In line with her "White Lotus" counterpart, Johansson's Ivanka is seen seeking spiritual enlightenment, only to change her mind when she's told: "You must ask yourself: 'Am I ready to give up greed and material possessions in order to lead an honest and ethical life?'"

Elsewhere, Beck Bennett returned as a shirtless Russian President Vladimir Putin, Kenan Thompson appeared as Tiger Woods, and the episode's celebrity host Jon Hamm portrayed RFK Jr.

The star-studded lineup also featured a brief appearance from musical guest Lizzo, who played a disgruntled American who realized their savings had tanked.

"Oh, my God, there's $5 million in my bank account," she said. "It was 20 million last week."

The skit seems to have been a hit with fans, with some on social media lauding it as one of the best sketches the show has done in some time.

"'The White Potus' is the most brilliant and well-done satire SNL has done this century," one X user wrote.

"Gonna need at least 10 seasons of this," another said.

"The White Potus is the funniest thing Saturday Night Live has done in years," a third added.

Earlier in the episode, Johnson's Trump was also the focus of an Easter-themed cold open, which began by dramatizing the bible story of Jesus (played by Mikey Day) casting moneylenders out of the temple on his arrival in Jerusalem.

"Remind you of anyone?" Johnson's Trump said, interrupting the sequence. "I also got rid of money last week, but instead of one temple, I did a whole country. Maybe even the globe. The money's gone."

"Hi, it's me, your favorite president, Donald Jesus Trump, comparing myself to the son of God once again," he continued. "Many people are even calling me the Messiah because of the mess I, uh, made out of the economy, all because of my beautiful tariffs."

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