Goldman Sachs CEO says Trump's tariffs are part of a plan to “balance the playing field”

SYDNEY (Reuters) – U.S. President Donald Trump's decision to impose tariffs is part of a plan to “balance the playing field,” but the end result remains uncertain.

“The president firmly believes that there is an imbalance in the existence of trade, and he has a strong point of view, and he wants to actively improve the competitive environment,” Solomon said at the Australian Financial Review Business Summit in Sydney.

He added: “He is executing this view.

Asked about the forecast shared by investment giant Blackstone Chairman and CEO Stephen Schwarzman at the same meeting that the U.S. has no chance of experiencing a recession in 2025, Solomon said: “The chances of a recession in 2025 are small, but not zero.”

Edwin Cass, chief investment officer of the Canadian Pension Plan Investment Commission, told the conference that his country was “bound to the hip” and “jointed” with the United States, but regardless of the tariffs, we will try and do something to make it more competitive on the world stage. ”

(Reported by Byron Kaye and Christine Chen; Edited by Muralikumar Anantharaman and Shri Navaratnam)