Two of Wall Street’s top executives have expressed support for Donald Trump despite concerns over his trade policies, according to the Financial Times. Blackstone CEO Stephen Schwarzman said tariffs would ultimately boost U.S. manufacturing, calling it a good thing for the world.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Wall Street's top executives have expressed support for Donald Trump,
00:05despite concerns over his trade policies, according to the Financial Times.
00:09Blackstone CEO Stephen Schwarzman said tariffs would ultimately boost U.S. manufacturing,
00:14calling it a good thing for the world.
00:16Goldman Sachs CEO David Solomon acknowledged the business community's desire for lower tariffs
00:22and praised Trump's engagement with executives and deregulation efforts.
00:26Trump's 25% tariffs on steel and aluminum imports took effect,
00:30prompting retaliation from the EU and Canada.
00:33Solomon expects IPO activity to rise in 2025 as regulatory burdens ease.
00:38Trump defended tariffs as a means to drive domestic job growth.