Trump's tariffs were facilitated by unhealthy uncertainty, but the markets have soon “settled”, said Goldman CEO David Solomon

• Although Trump is banging The merger and take -offs did not materialize as expected, said David Solomon, CEO of Goldman Sachs, that he believed that the mergers and the actions of A will recover at the end of this year when the markets are “located”.

David Solomon, CEO of Goldman Sachs, said that the first 100 days of President Donald Trump were marked by unhealthy uncertainty, but in his opinion “lives” as a new normal induction markets.

Said Solomon Bloomberg Television The current level of uncertainty has been encouraged by Trump's demanding – capricious tariffs have influenced both public and private markets, and CEOs have already taken steps to compensate for a hit, including through, including through redundancyTo.

“So far, political actions have increased the level of uncertainty to some extent, which I do not think it would be healthy for investment and growth,” Solomon said BloombergTo. “As I am talking to the CEOs, talking to our clients, they will keep their investments back and definitely tighten their belts.”

The shares of Trump's tariffs during the ups and downs of the battle have lost about 8% of their value – the worst start of the new administration after Gerald Ford's 70s Financial timesTo. Trump's tariffs from China, which was 145%on Tuesday, have already caused some Chinese companies, such as Temu and Shein, to raise prices while to warn against the rise of future pricesTo.

However, Solomon added that despite the current uncertainty, merger and take-off-investment banks, the main source of revenue of the investment bank increased in the first quarter a year ago, and he believes that the rest of the year could be seen. Goldman introduced $ 1.9 billion in the first quarter of transactions and emission insurance fees, Bloomberg Reported that remained only at a competitor, JPMorgan, $ 2.2 billion and fell from $ 2.1 billion, which it brought in in the same quarter last year.

“If there is a level of uncertainty here, yes, you don't see the same amount of capital markets,” Solomon said. “But my own faith is things that solve, we have a clearer political perspective and the normalization of capital markets.”

Investors expected a Bonanza On the activities of the merger and acquisitions of speculation, Trump would bring a more relaxed approach to the Federal Committee on Commerce and would eliminate regulations. However, the transactions are lower than expected this year as tariff uncertainty and public lists have been on hold, Bloomberg reported.

Solomon said he was encouraged by what he hears about its plans from the Treasury Department Simplify banking rulesAnd the attached transactions will eventually recover.

“People have to make transactions, raise capital, need liquidity for their investments,” he said. “Some of it is just a resetting expectation.”

This story was originally reflected on Fortune.com