Grosvenor Group CEO Criticizes Trump’s Tariffs as ’Nonsense and Stupid’

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2025-05-28 15:44:02

Mark Preston, CEO of the centuries-old Grosvenor Group, dismissed the TRUMP administration’s tariffs as counterproductive and unsustainable. The head of the Mayfair and Belgravia estate operator argued that such protectionist measures harm global economies, from London to America’s Chinatowns, despite Grosvenor’s own resilience.

Preston pointed to historical precedents where trade barriers collapsed into broader agreements, citing the postwar General Agreement on Tariffs and Trade as a model. Grosvenor’s latest financials underscore its stability, with underlying profits rising 16.5% to £86.4 million last year, driven by cost control and strong occupancy rates across its global portfolio.

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