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Investing.com -- Stephen Schwarzman, the CEO of Blackstone (NYSE:BX), expressed support for U.S. President Donald Trump’s tariffs on Wednesday, stating they could stimulate manufacturing growth in the U.S., which is the world’s largest economy. Schwarzman’s comments came amid global concerns about the impact of these tariffs on investor, consumer, and business confidence.
Speaking at Blackstone’s 20th-anniversary event in India, Schwarzman shared his positive outlook for India-U.S. tariff negotiations, following a recent meeting between Prime Minister Narendra Modi and President Trump. He noted that U.S. tariffs will likely lead to a significant rise in U.S. manufacturing activity. "Given the size of the U.S., that tends to be a good thing for the world," Schwarzman added.
Trump’s administration has imposed a 25% tariff on steel and aluminum imports into the U.S. and is considering similar measures for a variety of other goods.
In addition to these comments, Schwarzman also discussed Blackstone’s plans in India. Amit Dixit, head of Asia private equity at Blackstone, revealed that the firm plans to double its assets under management in India from the current figure of over $50 billion in the coming years. Blackstone is one of the largest owners of office buildings, shopping malls, and logistics parks in India. The firm has also established one of the top three hospital chains in the country and has investments in IT services and electric vehicle components companies.
The U.S-based firm, which possesses around $60 billion of infrastructure assets globally, is also exploring opportunities to invest in India’s infrastructure sector, including data centers, telecom towers, renewable energy, and airports and ports. "India needs infrastructure and this is something as an objective we’d like to do," Schwarzman said, highlighting the firm’s interest in contributing to India’s infrastructure development.
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