CEO Playbook: Navigating Business Under Trump's Interventionist Presidency

Trump's Interventionist Style

• ⚡ Trump's approach to business is characterized by ruthlessness and unpredictability, differing from past presidents' methods.
• 🎯 Interventions occur through social media and direct demands, impacting companies like Cracker Barrel and Coke, and dictating actions for oil companies and defense contractors.
• ⚠️ Unlike previous administrations, Trump's actions are often personal and persona-driven, demanding loyalty over adherence to norms and institutions.

Corporate Pushback and Silence

• 🗣️ While some CEOs like Jamie Dimon and Darren Woods have pushed back on specific issues like credit card caps and Venezuela infrastructure, widespread corporate dissent is rare.
• 🤫 Most CEOs prefer to remain silent to avoid the president's attention and potential social media backlash, as there is no upside to speaking out.
• ⚖️ Even established groups like the Business Roundtable and Chamber of Commerce have struggled to speak on the record, with most conversations happening on background.

The CEO Playbook for Engaging Trump

• 📞 "Find a way" is the first rule, emphasizing that Trump is accessible, often giving out his personal number to CEOs.
• 🤝 The second step is to "quietly maneuver" once access is gained, avoiding public boasts about discussions to prevent misinterpretations.
• 💡 The third rule is to "educate, don't bellyache", presenting issues through visual aids and focusing on the impact on voters, rather than criticizing policies directly.
• 🎁 Bringing trophies or gifts, like a gold watch or a branded item, can also be beneficial as Trump appreciates such gestures.

Small Business and Tariffs

• 📈 Small, non-public companies are also suing the Trump administration, particularly over tariffs, which are seen as an existential threat.
• 🧩 Companies with credibility on specific issues, like toy companies regarding tariffs or businesses with specific workforce needs regarding immigration, may find it easier to speak out.
• 📉 However, even for small businesses, speaking out is still few and far between due to the risk of attracting unwanted attention.