Goldman Sachs chief economist: Trump will not restart "reciprocal tariffs" on July 9
2025-06-19 04:04:50
Jan Hatzius, chief economist at Goldman Sachs, predicted that Trump would not restart "reciprocal tariffs" on July 9. Speaking at an event at the American Enterprise Institute, a conservative think tank, Mr. Hatzius suggested that the White House would be more likely to extend negotiations with trading partners rather than strictly enforce the July 9 deadline. Mr. Hatzius's team estimates that overall US tariff rates have risen by about 10 percentage points this year. "We expect an additional 4 to 5 percentage points due to the 25% targeted tariffs on semiconductors, communications equipment, pharmaceuticals, copper and other industries. This is a significant additional tax increase that we think will still be implemented." (Kim Ten)
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