US President Donald Trump dismissed Goldman Sachs CEO David Solomon's estimates regarding the impact of US tariffs as incorrect. Trump advised Solomon to become a DJ instead of running a bank. He claimed that tariffs brought in billions of dollars and had a positive impact on the economy.
US Tariff: US President Donald Trump targeted Goldman Sachs CEO David Solomon for his estimates of the impact of tariffs on the US economy. On Tuesday, Trump said that Solomon and his company's warnings were wrong and that he should focus on becoming a DJ instead of running a bank. Trump claimed that tariffs have had a positive impact on the inflow of billions of dollars, the US stock market, and financial health, and said that there has been no negative impact on inflation.
What David Solomon Said
Goldman Sachs CEO David Solomon expressed his concerns about Trump's trade strategy in an interview with Bloomberg TV in May. He said that US policy actions have increased market uncertainty, which is not good for investment and growth. Solomon believed that this uncertainty has caused investors to hold back their investments.
Following this statement, Trump became agitated and, opposing Goldman Sachs' report, said that tariffs have not burdened consumers. He also claimed that American companies and foreign governments have borne this burden.
Trump's Response and Impact on the US Economy
Trump wrote a lengthy post on the impact of tariffs, stating that the US economy has strengthened as a result. He stated that billions of dollars have been collected in the form of tariffs, which are beneficial for the American treasury, the stock market, and financial health.
He said that in this phase of tariffs, there has been no inflation or any other problem. On the contrary, the government has accumulated a large reserve of cash. Trump insisted that Goldman Sachs and Solomon are not acknowledging this success because their predictions have been proven wrong.
Market and Investor Reaction
Following Trump's post, there was activity in the US markets. Investors welcomed the clear signals about the impact of tariffs. Meanwhile, some experts say that the President's response was a mixture of personal accusations and criticism.
Goldman Sachs CEO David Solomon has not yet issued a detailed statement on this controversy. Market analysts believe that this debate related to tariffs and the President's statement sends important signals to American investors and companies.
