Tags: Trump | Success | Direct Approach | Business

Trump Finding Success With Direct Approach to Businesses

Trump Finding Success With Direct Approach to Businesses

(AP)

By    |   Wednesday, 07 December 2016 08:51 AM EST

President-elect Donald Trump appears to be taking a direct approach with the economy that most presidents have not — addressing businesses personally, according to The Hill.

Instead of discussing policy and industries in general, Trump made specific mention of the heating and cooling manufacturer Carrier, until he was able to make a tax-incentive deal with the company to keep its Indianapolis plant open.

Tuesday, he said that he wanted to cancel aircraft manufacturer Boeing's contract to build a new Air Force One presidential plane.

 

 

The Hill reported that Boeing's stock dropped after Trump's tweet, and the company responded that its contract was only for $170 million, not the $4 billion Trump quoted.

The incoming president has also taken aim at other companies, including industrial manufacturer Rexnord for "viciously firing" workers and sending jobs to Mexico.

He also has promoted businesses, such as making an appearance with the CEO of Japan's Softbank, who agreed to invest $50 billion in the U.S.

Conservatives who favor small government may take issue with Trump's approach, since Republicans usually allow the private sector to operate on its own, The Hill notes.

"There are so many things that are off about this kind of approach. It makes for a big spectacle, but even if you wanted Trump to achieve his goals, this is not a very effective way to do it," Cato Institute trade policy analyst K. William Watson said.

Republican Sen. Pat Toomey thinks Trump's "using these examples to make a point… it's about creating an environment where companies want to stay."

Business leaders are hoping that the Congress, which is led by Republicans, can rein in Trump when necessary, such as the 35-percent tariff on foreign goods that Trump had threatened. House Majority Leader Kevin McCarthy rejected the proposal on Monday.

Caterpillar CEO Doug Oberhelman said that such a tariff on companies that are major exporters could be problematic for their business.

"I think a better way is a positive engagement between the administration, business and those foreign countries to figure out how we all win on trade," he said, according to The Hill.

The Washington Times reported that Oberhelman said Trump's tactics would be valuable, "if we combine that with policy of a very aggressive pro-job creation environment."

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Politics
President-elect Donald Trump appears to be taking a direct approach with the economy that most presidents have not - addressing businesses personally, according to The Hill.
Trump, Success, Direct Approach, Business
406
2016-51-07
Wednesday, 07 December 2016 08:51 AM
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