*

Trump criticizes Goldman Sachs ( GS ) CEO in social media post

*

Goldman Sachs ( GS ) analysts say US consumers absorbed 22% of

tariff

costs through June

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Trump has targeted other CEOs, including Intel's ( INTC ) Lip

Bu-Tan and

Apple's Tim Cook

(Adds a White House spokesperson did not respond to comment in

paragraph 4; more context on Goldman research in paragraph 9;

more context on tariff impact in paragraph 13)

Aug 12 (Reuters) - U.S. President Donald Trump hit out

at Goldman Sachs ( GS ) CEO David Solomon on Tuesday, saying the

bank had been wrong to predict tariffs would hurt the economy

and questioning whether Solomon should lead the Wall Street

institution.

In a post on Truth Social, Trump said it was mostly foreign

companies and governments absorbing the cost of his tariffs.

"But David Solomon and Goldman Sachs ( GS ) refuse to give credit

where credit is due. They made a bad prediction...on both the

Market repercussion and the Tariffs themselves."

Trump said Solomon should maybe focus on being a DJ, a

hobby Solomon abandoned some time ago, "and not bother running a

major Financial Institution."

The bank CEO is the latest corporate boss to become the

target of Trump's ire.

A Goldman Sachs ( GS ) spokesperson declined to comment. A

spokesperson for the White House did not immediately respond to

a request for comment.

Since February 1, when Trump kicked off trade wars by

slapping levies on imports from Mexico, Canada and China, at

least 333 companies worldwide have reacted to the tariffs in

some manner, as of August 12, according to a Reuters tracker.

While Trump did not specify which Goldman research he

was referring to, the Wall Street bank - like many of its peers

- has taken a bearish stance on Trump's tariffs.

In a note published on Sunday, Goldman Sachs ( GS ) analysts,

led by chief economist Jan Hatzius, said U.S. consumers had

absorbed 22% of tariff costs through June and that figure could

rise to 67% if recent tariffs continue on the same trajectory.

"I think that David should go out and get himself a new

economist," Trump wrote. Hatzius declined to comment.

In April, Goldman also warned sweeping U.S. tariffs would

weigh on global growth and prompt the Federal Reserve to cut

interest rates more aggressively than previously expected.

Last week, the president demanded Intel ( INTC ) CEO Lip

Bu-Tan resign due to his ties to Chinese firms, and has

repeatedly targeted Apple boss Tim Cook for making U.S.-sold

iPhones outside the country.

Trump has also taken aim at other Wall Street banks,

alleging, without providing evidence, that JPMorgan Chase ( JPM )

and Bank of America ( BAC ) discriminated against him by

refusing his deposits after his first term.

Tariffs are taxes levied on imported goods to typically

protect domestic industries or influence trade policies. Their

cost can be distributed among manufacturers, retailers and

consumers, depending on market conditions and supply-chain

dynamics.

As the second quarter earnings season progresses,

companies have reported a combined financial hit of $13.6

billion to $15.2 billion between July 16 and August 8 for the

full year from Trump's tariffs, according to Reuters' global

tariff tracker.