Executive Directors of Blackstone and Goldman Sachs Back Donald Trump as tariffs encourage us the fears of recession

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Two of the most prominent Wall Street managers supported Donald Trump, even while US President pressed forward with imported tariffs and trade policies that encouraged the fear of slowing down in the world’s largest economy.

Stephen Schwarzman, CEO of Blackstone, told reporters in India on Wednesday tariffs “At the end of the day” led to a significant increase in the US production activities in the United States.

“Given the size of the US, this is usually a good thing for the world,” he said Schwarzmanprominent Trump donor.

In the meantime, David Solomon, the executive director of Goldman Sachs, said that the business community “understands what the president is trying to do with tariffs”, although he has declared himself a greater “security” on the agenda of Trump’s administration policy.

Trump’s 25 percent of steel and aluminum imports came into force on Wednesday, launching of countermeasures From the EU, of which the block said it would influence € 26 billion in US goods. Canada also announced 25 percent of the tariff retaliation at about $ 30 billion in the USD goods produced in the US.

“The business community will always want lower tariffs, everywhere in the world,” Solomon said.

But Trump’s wider plan and his openness to resolve the executive, saying Fox News, he liked the way he was “president engaged with the business community.” “It’s a different experience than what we’ve had over the last four years,” Solomon said.

“Executive directors are excited about some rear winds, such as moving to a lower regulation,” he said, adding that the bureaucrat was “a significant wind for growth and investment.”

Solomon said he expects the number of initial public offers, which has been “muffled” in the last few years, increased in 2025.

The Goldman chief was part of a group of business leaders who met Trump at an event held on Tuesday night by a business round table, an association of 200 executive directors of large American companies.

Many of the participants have seen that the market capitalization of their companies in recent days in the midst of fear of recession and the increasing trade war.

Trump said at the rally that the US tariffs would increase domestic jobs and industrial production in the US. “The biggest victory is if [businesses] Enter our country and make a job, “he said.” It’s a bigger victory than the tariff themselves. “

Like the revival of American production, Trump’s aggressive trade moves are designed to reduce the trade deficit in the country and force Mexico and Canada to stop the flow of irregular migrants and fentali through the US southern and northern borders.

But deepening friction between the USA of some of his closest allies cause jerks throughout the business community.

In addition to the revenge tariffs by the EU and Canada, there is concern about the possibility that Trump will follow his threat to impose so-called reciprocal tariffs on all trade partners of April 2, to punish them for taxes, levies, regulations and subsidies that Washington considers dishonest.

Additional reporting Antoine Gara and Oliver Barnes in New York