President Trump is touting the positive impact of tariffs under his administration and calling out the skeptics who still refuse to acknowledge their success.
In a post on Truth Social, Trump highlighted the massive financial returns the tariff policy has generated for the U.S. while also pointing out that the negative effects his critics predicted, such as increased inflation, have not played out.
“Trillions of Dollars are being taken in on Tariffs, which has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else,” Trump said. “It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers.”
Trump also noted that consumers are not bearing the cost of tariffs as had been predicted in a recently released report by Goldman Sachs economists. The Goldman Sachs report projected that the cost to consumers would increase if the trends of previous tariffs were to continue.
“Also, it has been shown that, for the most part, Consumers aren’t even paying these Tariffs, it is mostly Companies and Governments, many of them Foreign, picking up the tabs,” Trump said.
Trump specifically called out David Solomon, the CEO of Goldman Sachs, for inaccurate predictions on tariffs and their impact on the economy. Trump also poked fun at Solomon for his hobby of being a DJ.
“But David Solomon and Goldman Sachs refuse to give credit where credit is due. They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else,” Trump said. “I think that David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution.”