Goldman Sachs CEO says Trump tariffs are part of a plan to 'level the playing field'
SYDNEY (Reuters) -U.S. President Donald Trump's decision to impose tariffs is part of a plan to "level the playing field" that he views as unfair, but the end result remains uncertain, Goldman Sachs chair and CEO David Solomon told a conference in Australia. "The president firmly believes that there are imbalances with respect to how trade exists, and he has a strong point of view that he wants to level the playing field aggressively," Solomon told the Australian Financial Review Business Summit in Sydney. Asked about a forecast shared at the same conference by investment giant Blackstone chair and CEO Stephen Schwarzman that the U.S. had no chance of experiencing a recession in 2025, Solomon said: "The chance of recession in 2025 is small but it's not zero."
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