Former President Donald Trump faced criticism from top CEOs at the Business Roundtable’s quarterly meeting for failing to provide clear explanations of his policy proposals. Multiple attendees described Trump as meandering, unable to stay focused, and lacking in details about reducing taxes and cutting back on business regulations. Despite some attendees initially being supporters of Trump, many left the meeting feeling less predisposed toward him.
While Trump was commended by his campaign communications director for his policy proposals on deregulation and tax cuts, attendees noted that his energy at the meeting was subdued and there was no noticeable applause during his remarks. This was in contrast to earlier meetings with House Republicans, where Trump was described as animated and engaged and received rounds of applause. Trump had reportedly wanted the CEO meeting to be more like a business meeting than a speech, which could explain his low-key energy at the event.
During the meeting, Trump discussed his plan to bring the corporate tax rate down from 21% to 20%, citing that it was a round number. This explanation caused confusion and skepticism among CEOs present at the meeting. In 2023, corporate income taxes contributed approximately $420 billion to federal revenues, according to the Congressional Budget Office. Wall Street has been uneasy under President Joe Biden’s administration due to aggressive antitrust enforcement, pharmaceutical price caps, and progressive tax policies.
Despite Trump’s lackluster performance at the Business Roundtable meeting, his campaign communications director highlighted that there was applause during the Q-and-A section where participants commended him for his deregulatory and tax cut agenda. The mixed reaction from CEOs in the room showcases the challenges Trump faces in winning over top business leaders. His failure to provide clear, detailed explanations of his policy proposals may have contributed to the decreased enthusiasm among some attendees who were initially leaning towards supporting Trump.
Overall, Trump’s performance at the Business Roundtable meeting left many attendees unimpressed and questioning his grasp of complex policy issues. While he received criticism for his lack of focus and detailed explanations, there were still supporters who commended him for his deregulatory and tax cut agenda. The contrasting reactions to Trump’s energy levels at different meetings highlight the challenges of engaging with diverse audiences and the importance of clarity and coherence in communicating policy proposals to key stakeholders. Despite his subdued energy at the Business Roundtable event, Trump’s ability to rally support among certain groups remains evident, albeit with some reservations and criticisms from top CEOs.
