TechFlow news, on March 25, according to Jinshi Data, Goldman Sachs economists noted that recent media reports suggest the Trump administration is leaning toward a more moderate stance on tariffs. However, they wrote, don't be fooled by this appearance: such an approach could likely bring negative surprises to the market.
Goldman Sachs pointed out that the Trump administration has consistently viewed tariffs as a negotiation tool and will likely aim to start negotiations from a position of strength. A recent survey by Goldman Sachs shows that market participants expect the reciprocal tariff rate to be introduced in April to reach 9%. However, Goldman Sachs itself expects the initial tariff rate could be twice that anticipated level, meaning the market may face a negative surprise as early as next week.
