"We stand by the results of this study,” Goldman economist David Mericle told CNBC's Squawk on the Street on Wednesday.

Goldman Sachs’ tariff report prompted a sharp rebuke from Trump, who mocked CEO David Solomon’s former DJ career.

A new analysis finds that U.S. consumers have absorbed only a small portion of the tariffs imposed by the Trump administration — but Goldman Sachs expects that to change in the months ahead.