(Reuters) – Goldman Sachs CEO David Solomon said on Wednesday it was important for the U.S. and China, the world’s two largest economic superpowers, to improve their bilateral ties.
His comments during an interview to CNBC at the World Economic Forum in Davos, Switzerland, come just days after Donald Trump became U.S. President and threatened to deliver fresh tariffs against imports from China and the European Union.
In his last term as president, Trump had heaped tariffs on more than $300 billion of Chinese imports.
Solomon said the rebalancing of certain trade agreements could be constructive for U.S. growth if it is handled right. “The question is, how far? How quickly, how thoughtfully?” he told CNBC.
Goldman Sachs has a long history of presence in China with offices in Beijing, Shanghai and Shenzhen. In 2021, the investment bank received an approval from China’s securities regulator to take full control of its mainland securities business.
Solomon also reiterated that he expects to see a meaningful increase in deal activity in 2025. Last month, he told a Reuters conference that dealmaking in equities could surpass the 10-year averages this year.
(Reporting by Arasu Kannagi Basil in Bengaluru and Saeed Azhar in New York; Editing by Arun Koyyur)
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