Macro EconomyMedium•3 November 2026•
1 min read
Goldman Sachs Expects Trump to Expand Tariffs Amid Rising US Debt Pressures
Key Facts
1Goldman Sachs expects President Trump to expand tariffs after the midterms to generate revenue amid rising costs.
2US debt reaching $40 trillion and rising war costs are putting significant pressure on the federal budget.
Goldman Sachs expects President Donald Trump to expand the scope of tariffs following the midterm elections to generate federal revenue. Benzinga reported that these projections emerge as US national debt reaching $40 trillion and rising war costs put significant pressure on the federal budget, necessitating new income sources.
Goldman Sachs shares closed at $898.72 on November 2, 2026, while major banking peers saw mixed closing levels with JPMorgan Chase at $340.58 and Morgan Stanley at $185.73 on the same date. Within the financial sector, Bank of America closed at $49.57 on November 2, 2026.