He may have portrayed himself as the President who knows business during the election, yet the biggest companies in the US are starting to get a little nervous about his style.
An example came this week when the Chief Executive of Boeing was quoted in an interview that we was worried about Trump’s stance on international trade. A few hours later along came a tweet concerning the rising costs that have hindered the building of the new Air Force One.
That was just the morning incidents and in the afternoon, there was a Tweet claiming credit for a Japanese conglomerates decision to invest some $50 billion in the United States. There was some surprise about this as the pledge had been previously announced many months ago.
All in one day we had this plus an announcement that Trump had sold all his stock, and many other comments, announcements and pledges. It’s not a style that America is used to and it certainly is starting to make corporate network extremely jittery. The style that is usually preferred is that of stability and caution from their leadership. Many businessmen and economics experts are worried that they will not be able to voice opinions without becoming involved in a public spat with the President-elect.
The president obviously has a lot of power and threats even implied ones can have a myriad of effects. Casual comments about issues have a different effect when they are coming from the President of the United States. They can potentially inhibit free speech, perhaps cause stock market fluctuations or even contribute to international incidents in extreme circumstances.
Others however have defended Trump’s style of doing business stating that it is just a matter of time before he reigns back his style. Also there is a learning curve on both sides and individual corporations and executives will begin to develop their own ways of reacting to the new President.
This causes another concern because it appears that President Trump is someone worth currying favor with. If any politician is seen to be rewarding his friends and allies but punishing people who disagree with him it creates a sort of false, nepotistic capitalism.
The role of a President is to safeguard and promote the whole economy and not cherry pick or manipulate individual businesses. Every company and individual is entitled to an ‘equal protection of the law’ – one of the bastions of the United State’s constitution us that the country should be a nation of laws and not of men.
Author of proxy for Netflix