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Trump, Biden aide woo corporate America executives
The meeting with the Business Roundtable, which counts 200 CEOs was largely focused on taxes and the economy.
WASHINGTON (Reuters) -U.S. Republican presidential candidate Donald Trump and Jeff Zients, U.S. President Joe Biden's White House chief of staff, on June 13 met with top American business leaders in Washington as they seek to carry favor with corporate America months ahead of elections, two sources said.
Trump was interviewed by conservative commentator Larry Kudlow, who served as a key economic adviser during Trump's 2017 to 2021 term, the sources said. JP Morgan Chase CEO Jamie Dimon was seen leaving the building after the meeting.
The meeting with the Business Roundtable, which counts 200 CEOs as members, focused on the economy, other sources said before it started.
But the dualing June 13 pitches show both candidates are increasingly focused on wooing deep pocketed and powerful corporate CEOs as the election draws near. In a May Reuters/Ipsos poll, 44 percent of registered voters said they believed Trump had a better plan for the economy compared with 33 percent in support of Biden's economic strategy.
The Biden campaign's message was clear June 12 morning: In a statement showcasing economic improvements under the Democratic president, the campaign criticized Trump's economic proposals, and his past. "Donald Trump couldn’t run a lemonade stand, let alone our country. He is a fraud, a crook, and a failed businessman and president who left America in economic ruin," campaign spokesperson James Singer said before the meeting.
Trump economic adviser Stephen Moore said after the meeting the former president "had a very pro-business message" that emphasized tax cuts for businesses and reducing regulation.
ELECTRIC VEHICLES, TAXES
Biden and Trump, who are locked in a tight race five months before the Nov. 5 election, disagree on a number of major economic issues.
Biden has made protecting the environment a core part of his economic plans. His administration has created a series of incentives for the purchase and use of electric vehicles, and in January his administration paused approvals for applications to export liquefied natural gas from new projects.
Trump, while at times light on specifics, has attacked measures meant to hasten the transition of the U.S. economy away from fossil fuels and has repeatedly claimed that electric vehicles do not work.
While in office, Trump cut the top corporate tax rate from 35 percent to 21 percent. Biden has proposed increasing the top rate for large corporations to 28 percent, below historic levels, but above the current figure.
BUSINESS TITANS RETURN TO TRUMP
Both men have broadly used tariffs to protect U.S. industry. Trump has proposed putting a 10 percent duty on all imports.
"President Trump's America First economic program will deliver middle class tax cuts, record-setting regulation cuts, fair trade, abundant energy, low inflation, better wages and a restoration of the rule of law in America," said Trump campaign spokesperson Karoline Leavitt.
While in Washington, Trump is also slated to speak to Republicans in the Senate and House of Representatives at locations close to the U.S. Capitol. Those meetings are expected to focus on the policy priorities of a potential second Trump term.
The Business Roundtable routinely asks major party presidential candidates to address the group during election years. Even so, Trump's appearance underlines how some in the business community have warmed to the former president after many companies distanced themselves from him and his supporters following the Jan. 6, 2021, attack on the U.S. Capitol.
In the weeks after the attack, many major corporations said they would no longer donate to federal politicians who denied the legitimacy of the 2020 vote, which Biden won, though many have since appeared to quietly walk back that pledge.
Business titans like Stephen Schwarzman, the CEO of Blackstone, have previously forsaken Trump, only to announce in this election cycle that they would support him after he easily dispatched his rivals in the Republican presidential nominating contest earlier this year.
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