FILE PHOTO: David M. Solomon, Chairman and CEO of Goldman Sachs, speaks in the course of the Milken Institute’s 22nd annual Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Mike Blake
(Reuters) – Goldman Sachs Chief Executive David Solomon informed CNBC on Tuesday that U.S. President Donald Trump’s use of tariffs as a part of a political agenda can impact market exercise.
A commerce conflict is “bad for risk assets” and tariffs convey “dislocation” and “uncertainty,” Solomon stated, including that he’s not massive a fan of the financial value of tariffs.
“The issue is that the president is using tariffs as a broader agenda,” Solomon stated within the interview. “There’s no question if the president continues to use tariffs for a broader, political agenda, it can have an impact on market activity.”
Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler