US Edition
Trump Tells Goldman Sachs CEO David Solomon to Replace Economist over Tariff Predictions
Trump dismissed Goldman Sachs economists' forecasts on tariffs and inflation, asserting tariffs raised $152 billion in revenue and have not harmed U.S. consumers, despite economists predicting rising consumer costs.
- On Tuesday, President Donald Trump criticised Goldman Sachs for not giving his trade policy enough "credit," writing, "But David Solomon and Goldman Sachs refuse to give credit where credit is due."
- On Tuesday, Goldman Sachs economists warned that US consumers bore 22% of tariff costs through June, which could increase as tariffs impact Treasury revenue, Trump wrote.
- Recent figures reveal tariffs generated roughly $152 billion in federal revenue through July, Treasury Department data show.
- The president claimed that tariffs are shouldered by companies and foreign governments, not consumers, and that tariffs haven’t caused inflation or other issues, amid the spat.
- Despite Trump’s claims, a Reuters tracker shows at least 333 companies have reacted since February 1, reporting a $13.6 billion to $152 billion hit this quarter.
80 Articles
80 Articles
Trump wants to separate the star economist from Goldman Sachs, guilty of having shown that his tariffs are mainly on U.S. consumers.
The relationship between Donald Trump and the big American banks does not seem to go through its best moment.A few days ago he criticized them harshly for their criteria for filtering clients, remembering that it was rejected by JPMorgan and Bank of America, and now he launched them against Goldman Sachs.The Republican's criticisms pointed directly to the CEO of that institution, David Solomon, but particularly against the chief economist, Jan H…
The Großbank Goldman Sachs published an analysis of the level of customs costs for consumers. The US President has now issued a statement against the Institute – and against its German chief economist.
According to Donald Trump, Goldman Sachs has made false negative forecasts of US tariffs. Criticism is also directed against the bank's executive offices.
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