Overview

• Goldman Sachs economists led by Jan Hatzius found U.S. consumers absorbed about 22% of tariff costs through June with potential to reach 67%.
• On Truth Social, Trump claimed foreign firms and governments bear most tariff expenses and accused Goldman Sachs and CEO David Solomon of refusing to acknowledge that fact.
• The president questioned Solomon’s leadership and mocked his past hobby as a DJ in his critique of the bank’s analysis.
• A Goldman Sachs spokesperson declined to comment on the president’s remarks when contacted by Reuters.
• Market analysts caution that such political pressure on financial institutions can distort economic assessments and urge investors to focus on underlying data.