Trump’s tariffs will hit hiring and marketing, but not AI spending, Goldman Sachs says

President Donald Trump’s tariffs are more likely to affect companies’ head count than their investment in AI.

That’s according to Eric Sheridan, a co-business unit leader for technology, media, and telecommunications at Goldman Sachs.

“I think the macro will end up with more volatility on operating expenses — that’s head count, that’s marketing spend, that’s very, very long duration projects,” Eric Sheridan, in a Goldman Sachs Exchange podcast episode released…