Donald Trump has publicly criticised Goldman Sachs chief executive David Solomon, accusing him of making an inaccurate forecast on the impact of U.S. tariffs and questioning whether he should remain in charge of the Wall Street bank. The former president also mocked Solomon’s former hobby as a DJ, suggesting he should return to it instead of running the company.
Tariff analysis sparks clash
The dispute followed a Goldman Sachs research note estimating that U.S. consumers had borne around 22% of tariff costs through June, with the figure potentially rising to 67% if recent tariffs persisted. The report contradicted Trump’s claim that the burden of tariffs falls entirely on foreign exporters. Responding on social media, Trump called the projection a “bad prediction” and insisted that tariffs had generated substantial revenue for the U.S. Treasury without driving inflation.
A pointed personal remark
In a remark that drew significant media attention, Trump suggested Solomon might be “better off being a DJ” rather than leading one of the most influential investment banks in the world. Solomon, who performed under the stage name DJ D-Sol, stepped back from his music appearances in 2023 after criticism from shareholders and colleagues.
Wall Street caught in political crossfire
The exchange highlights the sometimes tense relationship between Trump and leading figures in the financial sector. During his presidency, Trump frequently clashed with Wall Street analysts who questioned his trade and economic policies. His latest comments suggest he remains willing to publicly challenge corporate leaders he believes undermine his agenda.
Potential implications
While Goldman Sachs declined to comment on Trump’s remarks, the spat comes at a time when market analysts are closely monitoring the economic impact of tariffs on consumer prices and trade flows. Trump’s willingness to personalise the dispute could further politicise economic forecasts, potentially influencing investor sentiment.
REFH – Newshub, 13 August 2025
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