A new client note rings the alarm bell about GDP growth and President Trump’s tariffs.

BY BRIAN CONTRERAS, STAFF REPORTER @_B_CONTRERAS_

Shoppers in New York City. Photo: Getty Images

Goldman Sachs is anticipating slow economic growth through the rest of the year—and President Trump’s widespread new tariffs are to blame.

“As the growing real income drag from tariff-related price increases offsets the boost from easier financial conditions,” gross domestic production will grow at a 1.1 percent annual rate through the rest of the year, chief economist Jan Hatzius said in a briefing covered by CNBC. “Even a one-time price increase will eat into real income, at a time when consumer spending trends already look shaky.”

Ever since Trump

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