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Goldman Sachs CEO David Solomon said Wednesday that it is imperative for the world-superpowers—the USA and China—to improve their bilateral relations.
Days after Donald Trump was elected president of the United States and threatened to impose new taxes on imports from China and the European Union, he made these remarks in an interview with CNBC at the World Economic Forum in Davos, Switzerland.
During his term as president, Trump had imposed tariffs on more than $300 billion of Chinese imports.
Solomon stated that the rebalancing of select trade agreements could contribute positively to U.S. growth if set right. “The question is: how far? How quickly? How thoughtfully?” he told CNBC.
Goldman Sachs has roots in China that go way back, with offices set up in Beijing, Shanghai and Shenzhen. In 2021, China’s securities watchdog gave the green light for the investment bank to take complete control of its mainland securities operations.
Solomon also said he thinks deal activity will pick up a lot in 2025. Last month, he told a Reuters conference that this year, equity deal-making might rise above 10-year averages. Read more »
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