Goldman Sachs chairman and CEO David Solomon expressed optimism about the US economy, despite concerns over tariff uncertainty. After President Trump’s visit to the Business Roundtable, Solomon told Fox Business that the business community understands the president’s intentions behind tariffs but wants lower tariffs worldwide.
Solomon praised the administration for being engaged with the business community, saying it’s a different experience than in the past four years. However, he emphasized the need for “more specific actions on the regulatory front to unleash more animal spirits.” He expects a pickup in activity across capital markets and M&A, driven by Trump policies encouraging capital spending, economic growth, and consumer activity.
Despite uncertainty, many Business Roundtable members are medium-term and long-term optimistic about Trump’s policies. Treasury Secretary Scott Bessent stressed the importance of making Trump’s tax cuts permanent.
In contrast, CEOs have expressed frustration with Trump over trade policy. A recent CEO Caucus meeting revealed “universal revulsion against the Trump economic policies.” Some, like Stephen Schwarzman, believe tariffs will lead to increased manufacturing activity in the US, benefiting the world.
Solomon acknowledged that regulation has been a headwind to growth and expects discussions on tax and energy policies to gain traction. He remains optimistic about the US economy’s direction, citing its “incredibly nimble and versatile” nature. However, the recent boost of economic exuberance from corporate leaders following the November elections appears to have receded, according to a new survey.
Source: https://www.axios.com/2025/03/13/ceos-push-for-patience-with-trump