Staff Reporter

Blackstone Chief Executive Stephen Schwarzman stated that the tariffs imposed by U.S. President Donald Trump have the potential to increase manufacturing activity in the United States, the largest economy in the world.

Since taking office in January, President Trump’s focus on tariffs has unsettled investors, consumers, and business confidence. Economists are raising alarms about the possibility of a U.S. recession that could have a ripple effect on the global economy.

During an event in Mumbai on Wednesday, which celebrated Blackstone’s 20th anniversary in India, Schwarzman—who has been a long-time supporter of Trump—expressed optimism that trade negotiations between the U.S. and India would progress more smoothly compared to those with other nations, following last month’s meeting between Prime Minister Narendra Modi and President Trump.

In response to questions regarding the effects of U.S. tariffs on the global geopolitical landscape, Blackstone CEO Stephen Schwarzman stated that these tariffs will “ultimately” lead to a noticeable rise in manufacturing activity within the United States.

“Considering the scale of the U.S. economy, that’s generally beneficial for the world,” Schwarzman remarked.

He acknowledged the uncertainty surrounding the situation, noting that initial announcements could evolve into actual changes. However, he refrained from specifying which sectors might gain or how the tariffs could serve as a catalyst for growth.

President Trump has implemented a 25% tariff on imports of steel and aluminum into the U.S. and is contemplating further trade measures.