|11 June, 2019

Goldman Sachs CEO: Tariffs for political agenda can impact markets - CNBC

Trump's use of tariffs as part of a political agenda can impact market activity - Solomon

David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 29, 2019.

David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 29, 2019.

Reuters/Mike Blake

Goldman Sachs Chief Executive David Solomon told CNBC on Tuesday that U.S. President Donald Trump's use of tariffs as part of a political agenda can impact market activity.

A trade war is "bad for risk assets" and tariffs bring "dislocation" and "uncertainty," Solomon said, adding that he is not big a fan of the economic cost of tariffs.

"The issue is that the president is using tariffs as a broader agenda," Solomon said in 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) ((Kanishka.Singh@thomsonreuters.com; +91 80 6749 0021;))

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