Goldman sees US GDP hit if Donald Trump wins, boost If Kamala Harris, Democrats sweep

By Christopher Anstey | Bloomberg

Goldman Sachs Group Inc. economists gamed out the potential economic implications of a Republican or Democratic victory in the November elections, cautioning that US GDP faces a hit in the case of a win for Donald Trump.

“We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse” from maintaining most tax cuts, Goldman economists including Alec Phillips wrote in a note Tuesday.