The recent visit of U.S. President Trump to the Middle East has concluded, but this trip was not his solo performance. Senior executives from a host of American companies such as NVIDIA, Apple, Walmart, and JP Morgan also boarded private jets one after another to "follow" him, aiming to avoid being hit hard by Trump's tariff sticks and assist him in showcasing his desired image.
During Trump's visits to Saudi Arabia, Qatar, and the UAE, many American business leaders changed their original schedules, boarded private planes to cross the Persian Gulf, and appeared alongside the president at local commercial summits.
Nowadays, it has become routine for American business leaders to travel with the president and return to the White House or make short stops in the Oval Office, just like attending industry conferences.
Corporate giants are making more efforts than ever to engage with the government to seek relief from regulations and tariffs. They are aware that this "transactional president" is only willing to offer policy support to those who are close to him.
Trump also enjoys using these business leaders as supporting actors to create an impression of "economic prosperity" during times of economic slowdown.
Cooperating with the "Transactional President" to Put on a Show
However, as the saying goes, "To be close to the emperor is like being close to a tiger," even frequent interactions with the president could not completely shield Apple, Amazon, Walmart, and other companies from Trump's "displeasure." Their public commitments to creating jobs in America were more about cooperating with Trump to shape public perception rather than protecting their own profits. Their private jets followed Trump across Saudi Arabia, Qatar, and the UAE. They said they had almost no choice, especially given Trump's arbitrary use of tariff sticks.
"I wonder now we have a president who acts as a salesman himself," Trump said in Abu Dhabi. Standing beside Cleveland Clinic CEO Dr. Mihaljevic, he also took a dig at former President Biden. "Do you think Biden would do this? I don't think so. But I think this is really important. I have to be a cheerleader for our country."
The host countries and the White House organized large-scale business meetings within weeks, allowing Trump to showcase his "negotiation skills" during his itinerary. Business leaders signed cooperation agreements, boasted about bilateral investments, and mainly put on a show. This was also an opportunity for them to socialize and joke about how this scene had become part of their work.
Trump has repeatedly demonstrated that those who kowtow to him can get business - for example, he supported Tesla. Those who refused to flatter him might face punishment - for instance, Amazon was pressured during his first term, and some law firms, American universities, and other institutions are currently facing his retaliation.
"He needs people to kiss his ring and satisfy his vanity," said Jeffrey Sonnenfeld, director of the Leadership Institute at Yale University. He pointed out that such sycophantic behavior often brings better policy treatment and free government publicity.
After Trump took office, he imposed a large-scale increase in tariffs: starting February 1st, he imposed tariffs on Canada, Mexico, and China, three major trading partners of the United States. Trump announced a 25% tariff on imports from neighboring countries Canada and Mexico, accusing them of failing to stop illegal immigration into the U.S.; he imposed a 10% tariff on Chinese goods, accusing China of playing a significant role in fentanyl production.
Louis Vuitton shows long-distance licking skills
Becoming Trump’s "lick dog" is not limited to American businessmen. On Monday, an executive from a famous French company also appeared in the Oval Office.
Trump thanked the Louis Vuitton Moët Hennessy (LVMH) Group's brand, Tiffany & Co., for crafting "sacrifice medals" for the families of three fallen police officers in Palm Beach County, Florida. Trump personally presented these medals to their families.
Due to the threat of tariffs on everything from handbags to champagne, LVMH's stock price has fallen this year. Trump said to Alexander Arnault, representing the company, "Thank you very much, Alexander. I appreciate your coming. – He came all the way from France."
Multiple U.S. companies exposed "absolute loyalty is not absolute"
Compared to the Biden administration, senior executives of top American companies feel it necessary to maintain regular contact with the Trump team. However, this connection does not mean they can truly influence the president.
Executives from multiple companies, speaking anonymously, revealed that they do not always know through whom they can convey their opinions on tariffs, regulations, and taxes to Trump. Treasury Secretary Bessette became their most trusted "messenger," but even so, it did not fully protect them from Trump's attacks.
Walmart CEO McMillan originally arranged a call with Bessette last Saturday but was publicly criticized by Trump on social media, who said Walmart should "absorb" the cost of tariffs.
In April, Trump called Amazon founder Bezos. Bezos attended Trump's inauguration ceremony. There were reports that Amazon considered labeling the impact of Trump's tariffs on prices on product tags. Amazon was indeed researching this approach, especially for its "Amazon Haul" service, which competes with Chinese companies Temu and Shein. However, Amazon ultimately abandoned this approach that would have upset Trump.
Leaders of American automakers General Motors, Ford, and Stellantis also met with Trump to explain how tariffs affect car production. Trump granted exemptions for domestic models produced by these companies but still imposed a 25% tax on imported steel and aluminum.
Trump once said last April that his tariff adjustments were temporary measures to help automakers increase domestic production during a "brief transition period." "We just want to help them during this transition period," he said, "we don't want to punish them."
Apple received multiple praises from Trump after announcing a $500 billion investment in the U.S. But Apple also plans to transfer more iPhone production to India to cope with Chinese tariffs, which made Trump unhappy.
In his speech in Qatar, Trump recalled a conversation with Apple CEO Cook: "I told him, [my friend, I've been good to you. You're investing $500 billion in the U.S., but I hear you're building a factory in India. I don't want you to build a factory in India]. "
Morgan Stanley successfully influences Trump's tariff policy through public statements
In contrast, Jamie Dimon, chairman and CEO of JPMorgan Chase, successfully influenced Trump's tariff policies through a TV interview.
This banker appeared on Fox Business Network's "Maria Morning Show" on April 9th. At the time, financial markets were in panic due to Trump's tariff policies. Dimon stated that if Trump could reach trade agreements, the market would recover.
"Take a deep breath," Dimon said, "sign some trade agreements. This is the best thing they can do."
That day, Trump lowered tariffs to a basic level of 10% and allowed 90 days for negotiations.
Trump later recalled, "This morning on Maria Bartiromo's program, I watched Jamie Dimon's interview, and he spoke well."
Source: DW via AP
Original article: https://www.toutiao.com/article/7506961481016017458/
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