Goldman Sachs CEO: "Very Low Possibility of US Economic Recession"

Blackstone CEO Also Says
"No Recession Expected This Year"

David Solomon, CEO of Goldman Sachs, said that despite the uncertainties surrounding global trade policies, the likelihood of a recession in the U.S. economy is "very low."

According to Bloomberg on the 4th, Solomon made these remarks at the Financial Review Business Summit held in Australia that day.

David Solomon, CEO of Goldman Sachs. Photo by Reuters and Yonhap News

He commented on U.S. President Donald Trump's tariff policies, saying, "President Trump firmly believes that trade imbalances exist and has a strong view that he wants to actively level them," adding, "He is acting according to that view."

Solomon further added, "How exactly he implements it is part of the uncertainty I am referring to." While he drew a line against the view that Trump's tariff policies could negatively impact the U.S. economy, he indicated that the tariff policies increase uncertainty.

At the same conference, Steve Schwarzman, CEO of Blackstone, stated that based on a quarterly survey of 250 companies owned by the firm, the U.S. economy is in good condition, and none of the executives surveyed expect a recession this year.

On the 3rd (local time), President Trump announced at the White House the investment plan of Taiwan's TSMC, the world's largest foundry (semiconductor contract manufacturing) company, in the U.S., and declared that starting from the 4th, a 25% tariff would be imposed on Mexico and Canada. President Trump emphasized, "There is no room for negotiation," and "Everything is ready and it will take effect tomorrow."

Additionally, President Trump signed an executive order to impose an additional 10% tariff on China, raising the total to 20%. Solomon said regarding this, "The Chinese economy is facing significant headwinds."

Meanwhile, on the decision to remove the diversity and inclusion section from the annual report, he said, "Due to several changes in executive orders and laws, we need to communicate differently on these matters."

This content was produced with the assistance of AI translation services.