Goldman Sachs (GS) has been advising several countries, including South Africa, Japan, and Saudi Arabia, on how to manage trade tensions with the United States under President Donald Trump, The Wall Street Journal reported Monday, citing people familiar with the matter.
South African officials, including President Cyril Ramaphosa, have consulted with Goldman on trade issues since late February, the report said.
The bank advised considering changes to laws around Black ownership and land seizures, both of which have been criticized by Trump and Elon Musk, the report added.
A spokesman for Ramaphosa said Goldman's recommendations "would not have found favor with the government," the report said.
Goldman has also advised France and Saudi Arabia on negotiations with the Trump administration, while Japan discussed concerns about Trump's criticisms of its tax policies but was reluctant to change its system solely to meet US demands, the report said.
Goldman did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.