

How Goldman Sachs’ John Waldron is navigating “a more uncertain time”
70 snips Jun 5, 2025
John Waldron, President and COO of Goldman Sachs, shares insights on navigating corporate challenges in uncertain times. He discusses strategies for managing risk amid U.S.-China trade tensions and changing tariffs. Waldron highlights Europe's growing investment potential, especially in Germany, and how Goldman Sachs is enhancing its operational resilience. He emphasizes the importance of effective leadership and communication, drawing from experiences during crises like COVID-19 to foster strong, human-centric relationships in business.
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U.S. Economy's Resilience and Risks
- The U.S. economy shows remarkable resilience with strong consumer spending and employment.
- Major risks remain tariffs and rising long-term interest rates, which could hinder economic growth.
Corporate Pause Then Adjust to Tariffs
- CEOs paused major strategic investments after sudden tariff hikes to reassess business impacts.
- Now companies cautiously resume capital spending and M&A as tariff levels appear manageable.
Supply Chain Uncertainty from Tariffs
- Companies highly dependent on U.S. or China supply chains show greater caution amid tariff uncertainty.
- Shifts to alternative sourcing remain unsettled due to tariffs impacting multiple countries' supply chains.