Goldman Sachs CEO on Trump’s Tariffs: What Business Leaders Really Think
Goldman Sachs CEO David Solomon shared his take on former President Donald Trump’s tariffs, saying that while the business world prefers fewer trade barriers, they understand why Trump put them in place.
In an interview with FOX Business, Solomon explained that companies naturally want lower tariffs to keep costs down. However, they also see the bigger picture of Trump’s strategy. “I think the business community understands what the president is trying to do with tariffs,” he said. “There’s always a preference for lower tariffs, but we have to see how things unfold.”
Economic Uncertainty and Market Reactions
The global market has been reacting to shifting trade policies, with some banks, including Goldman Sachs, adjusting their economic forecasts. Trump recently hinted that tariffs might increase, causing further speculation.
His 25% tariffs on aluminum and steel imports took effect this week, with the European Union responding by imposing $28 billion worth of tariffs on U.S. exports. Trump has threatened further reciprocal tariffs starting April 2.
Impact on Business Deals
Despite the uncertainty, Solomon noted that mergers and acquisitions (M&A) activity is showing signs of improvement compared to the last two years. “There’s still strong demand for deals and investments,” he said. “While some deals are on hold due to uncertainty, overall business strategy discussions are picking up.”
Looking ahead, Solomon expects the capital markets and M&A space to gain momentum as companies adjust to the economic landscape.
