AsianFin -- U.S. President Donald Trump on Tuesday criticized Goldman Sachs CEO David Solomon, suggesting he should either fire the bank's chief economist or "just focus on being a DJ." The comments came just days after a Goldman Sachs economist warned that American consumers would bear a growing share of the cost of new tariffs.1

In a Truth Social post, Trump touted the "massive" revenue generated by his tariff policies.2 "Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers," he wrote.3 According to the Treasury Department, tariff revenue reached nearly $28 billionin July alone.4

Trump also claimed that companies and foreign governments, "for the most part," are the ones paying the tariffs, not consumers.5 However, this view contradicts many economists who continue to warn that the full impact of the tariffs has yet to hit the economy, and numerous businesses have already announced plans to raise prices in response to the import duties.6