The Morning: C.E.O.s and Trump

Plus, Trump's trial, Ukraine and feral cats.

View in browser|nytimes.com Continue reading the main story April 17, 2024 By David Leonhardt Good morning. We're covering the relationship between major C.E.O.s and Donald Trump — as well as Trump's trial, Ukraine and feral cats. Donald Trump Doug Mills/The New York Times An ally of business If Donald Trump wins a second term, he has promised to govern as no modern president has, imposing steep tariffs, rounding up immigrants, freeing Jan. 6 rioters and possibly pulling out of NATO. Trump has signaled that he will accomplish all this by appointing loyalists, rather than the more moderate military leaders and corporate executives from his first term. Even so, many C.E.O.s are unconcerned, as my colleague Jonathan Mahler described them in a recent article. They don't believe Trump will do what he has promised, in contrast to many scholars who have studied politicians like Trump and believe that he will follow through. To make sense of the situation, I asked for help from Jonathan and three Times reporters who have been covering Trump's second-term plans: Maggie Haberman, Charlie Savage and Jonathan Swan. Our exchange follows. 'They can work with him' David Leonhardt: Do C.E.O.s just assume that Trump will fail to implement his agenda — or do they quietly support it? Jonathan Mahler: Most C.E.O.s are not wild about a second Trump term. They had a rocky ride the first time around — though they did get the tax cuts and deregulation they wanted — and they are pretty sure he will bring instability, which is generally bad for business. Having said that, many are also down on President Biden, who has been much more aggressive about regulating business. And I don't have the impression that they have absorbed the messages that Trump and his allies have been sending about what a second term would look like. President Biden  Al Drago for The New York Times It may be hard for C.E.O.s to imagine that they could have a lot less influence next time. But to me, that attitude seems to ignore both history and political currents around the world, including within America's own conservative movement. Charlie Savage: The premise here is that C.E.O.s would be more motivated by larger issues of American democracy as a matter of enlightened self-interest than by their direct self-interest. I am not sure that premise holds. It is common to hear the term "populist" used as shorthand for Trumpism. But that isn't the right label if the question is which candidate's policies are more likely to allow corporations and the wealthy to amass more money in the near term. Biden would let Trump's 2017 income tax cuts expire for affluent people, while Trump is promising a new corporate tax cut. And Trump disparages regulatory agencies — the means by which society imposes rules on powerful business interests, which can cut into their profits — as part of the "deep state" he has vowed to dismantle. Many radical aspects of Trump's agenda are not incompatible with the wealthy getting wealthier. (Related: In a speech yesterday, Biden harshly criticized Trump as a protector of the wealthy. "He looks at the economy from Mar-a-Lago, where he and his rich friends embrace the failed trickle-down policies that have failed working families for more than 40 years," Biden said.) Maggie Haberman: I think some C.E.O.s are telling themselves that there were similar warnings about Trump in 2016, and that they believe he's so transactional that they can work with him. The problem with that take is that Trump's interest in the C.E.O.s is entirely need based. Yes, he likes approval from the wealthy. But if he wins, he cannot legally run for president again, which would be unconstraining for him. I think the basic point that these executives are unhappy with economic policy under Biden is crucial. I have heard endless complaints about the climate initiatives, student debt relief and the federal deficit (despite a lack of complaining from the same executives when Trump increased the deficit). Most importantly, these executives tend to roll their eyes at coverage of Trump's radical plans and tell themselves they can find ways to navigate it. 'Averting their gazes' Jonathan Swan: Trump will have far fewer incentives in 2025 than he did in 2017 to appease corporate America. The donor class largely abandoned him after Jan. 6, even if some are slowly coming back now. American banks refuse to do business with the Trump Organization. And under Trump, the Republican base has changed dramatically. They are more blue collar, more likely to loathe corporate chieftains and Davos "thought leaders." The relationship between corporate America and congressional Republicans has also chilled. I have heard something like this from several Trump-aligned Republicans about corporate America: "We protected you for years. And then you turned around and sided with the Democrats on every major cultural issue — the environment, immigration, diversity and inclusion and voting rights." Most Republicans are still cozy with corporate interests, but some of the newer Trump-aligned members of Congress, like Marjorie Taylor Greene, are less dependent on corporate money because they raise a ton online from grass-roots donors. David Leonhardt: I'm left believing that many C.E.O.s genuinely support a lot of Trump's agenda — but also oppose other parts. The executives seem to be betting they can get the parts they like without the ones they don't. Maggie Haberman: No matter how genuinely they support or don't support specific pieces, many are animated by greater antipathy toward Biden than attraction to Trump. And they're averting their gazes from the parts they don't like. For more: Read Jonathan's article on the views of C.E.O.s and The Times's series on Trump's second-term agenda. Continue reading the main story ADVERTISEMENT THE LATEST NEWS Trump on Trial At the courthouse. Jefferson Siegel for The New York Times Juan Merchan, the judge overseeing Trump's Manhattan criminal trial, swore in the first seven of the jurors who will hear the case, including the foreman. Lawyers on both sides questioned prospective jurors, and Merchan dismissed several for social media posts critical of Trump. (See the 42 questions prospective jurors must answer.) After Trump muttered during jury selection, Merchan scolded his lawyer. "I will not have any jurors intimidated in this courtroom," Merchan said. The selection is moving quickly and could be done this week. Read more takeaways from Day 2. When Melania Trump learned in 2018 that her husband had paid to cover up an affair, she was furious with him. Now, she shares his disdain for the case against him. Trump has relied on a handful of explanations to defend himself across his various indictments. Read a fact check. "Another Stormy day in New York": The late night hosts had plenty to say about the trial. Congress Some House Republicans said they would fight Speaker Mike Johnson's plan to advance aid for Ukraine. Johnson will need Democrats' help to pass the package. House Republicans delivered articles of impeachment against Alejandro Mayorkas, Biden's homeland security secretary, to the Senate. More on Politics The Supreme Court justices sounded wary of letting prosecutors use an obstruction law to charge participants in the Jan. 6 attack. It's a case that could free convicted rioters from prison and eliminate some charges against Trump. Bob Graham, a Florida Democrat who worked entry-level jobs alongside his political roles in a populist strategy that helped make him a governor, senator and 2004 presidential candidate, died at 87. Middle East In southern Israel. Ohad Zwigenberg/Associated Press Israel's war cabinet continued to debate retaliatory options after Iran's attack. World leaders are pressing Israel and Iran to de-escalate the conflict. Separate Israeli strikes killed two Hezbollah commanders in southern Lebanon, the military said. Iran's attack on Israel has shifted focus from the war in Gaza. Read about the status of Israel's offensive there. International Response The U.S. plans to impose more sanctions on Iran for the attack. The University of Southern California, citing security concerns, canceled a planned speech by a valedictorian, who is Muslim. A Muslim group called the decision cowardly; pro-Israel groups said she had linked to antisemitic material online. Senator Tom Cotton, an Arkansas Republican, urged people to "take matters into your own hands" if pro-Palestinian protesters block roads. More International News In Ukraine. Tyler Hicks/The New York Times Thousands of foreign fighters signed up to help Ukraine after Russia's invasion. The Times spent four days alongside some of them. "Green Islam": Clerics in Indonesia have issued fatwas to fight climate change. Other Big Stories American officials, to persuade the British government to extradite the WikiLeaks founder Julian Assange, promised that he would not face the death penalty. Assange is charged with violating the Espionage Act. Jerome Powell, the Federal Reserve chair, said the Fed would probably wait to cut interest rates, citing stubborn inflation. NPR suspended an editor who publicly accused the network of liberal bias. Hawaii bars government contractors from making political donations. Late night fund-raising parties have undermined the effort, a Times analysis found. Opinions Doug Sosnik explains Biden's narrow path to victory with 11 maps. Israel should act like a democracy and allow outside journalists to enter Gaza, Jodie Ginsberg writes. Two former prosecutors discuss Trump's criminal trial in Manhattan with David French. Here are columns by Thomas Friedman on leadership change in the Middle East and Ross Douthat on the difference between polarization and civil war. A subscription to match the variety of your interests. News. Games. Recipes. Product reviews. Sports reporting. A New York Times All Access subscription covers all of it and more. Subscribe today. MORNING READS A scientist and a bilby.  Chang W. Lee/The New York Times Animals: Feral cats threaten Australia's native wildlife. Survival training for prey species could help. Nature school: This six-month program in Brooklyn helps New Yorkers bring neighborhood flora and fauna into focus. Social media: On TikTok, more women are making videos about abortions — some reflecting on their own experiences, others explaining how to obtain one. Ask Well: There are drugs to prevent Lyme disease in dogs. Why don't humans have the same? Lives Lived: Whitey Herzog was a Hall of Fame manager who led the St. Louis Cardinals to a World Series victory. He died at 92. SPORTS N.B.A.: The Sacramento Kings defeated the Golden State Warriors, 118-94, in a Play-In game. The Warriors are eliminated from playoff contention. Los Angeles Lakers: The Kings will play the Pelicans for the Western Conference's final playoff spot after the Lakers won in New Orleans to advance to the full playoffs. W.N.B.A.: Monday's draft averaged 2.4 million viewers; the previous record was 601,000, in 2004. Cage-match politics: Dana White, the chief executive of the U.F.C., has risen to the peak of Trump-era political influence. Continue reading the main story ADVERTISEMENT ARTS AND IDEAS At an improvisational movement class. Jim Wilson/The New York Times Medics in the U.S. have begun to explore an idea that was first popularized in Britain: "social prescription." That means trying to address problems like isolation and stress by suggesting patients explore nonclinical activities — think glassblowing, walks in nature, or ballroom dancing. Some experts, however, are skeptical about how far the approach will go in a nation without socialized medicine: "I think all the biases built into the system favor medical care and more acute intensive care," a health policy professor told The Times. More on culture At Hamburger America.  Colin Clark for The New York Times Oklahoma-style onion burgers are popular in New York. Pete Wells visited a SoHo restaurant where they reach their drippy peak. "Civil War," the new film from Alex Garland, ends in Washington. Read a behind-the-scenes look at how the sequence came together. THE MORNING RECOMMENDS … David Malosh for The New York Times. Food Stylist: Simon Andrews. Serve Indian butter chickpeas over rice. Throw a perfect dinner party. Turn a bike ride into a workout. Focus better with a white noise machine. Stop mosquitoes from multiplying. GAMES Here is today's Spelling Bee. Yesterday's pangrams were complicit and impolitic. And here are today's Mini Crossword, Wordle, Sudoku, Connections and Strands. Thanks for spending part of your morning with The Times. See you tomorrow. — David P.S. Jon Stewart interviewed The Times's David Sanger, a national security correspondent, on "The Daily Show." Sign up here to get this newsletter in your inbox. Reach our team at themorning@nytimes.com. Continue reading the main story Editor: David Leonhardt Deputy Editor: Adam B. Kushner News Editor: Tom Wright-Piersanti Associate Editor: Lauren Jackson News Staff: Desiree Ibekwe, Sean Kawasaki-Culligan, Brent Lewis, German Lopez, Ian Prasad Philbrick, Ashley Wu News Assistant: Lyna Bentahar Saturday Writer: Melissa Kirsch Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for the Morning newsletter from The New York Times, or as part of your New York Times account. To stop receiving The Morning, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018