Amid ongoing market turmoil spurred by President Trump’s new tariffs, business executives are engaging in a delicate dance of diplomacy. Despite Wall Street panic-selling and reports of CEOs making frantic calls to the White House, public statements from corporate leaders remain calm and even optimistic. Goldman Sachs CEO David Solomon praised Trump’s engagement with the business community, highlighting understanding for the tariff strategy while subtly advocating for lower tariffs.
The recent closed-door meeting between Trump and top CEOs from the Business Roundtable set a record for attendance following significant stock market losses. While some CEOs have expressed mild concerns about the economic impact and uncertainty caused by Trump’s policies, they continue to project confidence publicly. JPMorgan Chase CEO Jamie Dimon and BlackRock’s Larry Fink hinted at economic weakening but also acknowledged the potential long-term benefits of Trump’s actions.
Behind the scenes, however, CEOs are reportedly discouraged, with a majority expressing apologies to international partners for Trump’s unpredictability and pessimism about the administration’s impact on the economy. This contrasts sharply with earlier CEO confidence levels, which were boosted by promises of deregulation and lower taxes.
Despite the behind-the-scenes concerns, public statements from business leaders reflect a desire to avoid adding to financial panic and project confidence in the face of market uncertainties. The delicate balance between addressing economic realities and maintaining a positive outlook underscores the complex diplomacy that corporate America navigates in the current economic landscape.
