- In today’s CEO Daily: Diane Brady on CEOs’ concerns over America’s commitment to free speech, science, and the rule of law.
- The big story: Trump imposes new tariffs on chips, drugs, furniture and trucks.
- The markets: Mixed globally after third straight decline of S&P 500.
- Plus: All the news and watercooler chat from Fortune.
Good morning. I’ve spent the week talking to business leaders and policymakers who’ve gathered in New York for Climate Week, the UN General Assembly and assorted events on the sidelines, including our own. The mood is generally somber, with growing concern about America’s commitment to free speech, science, the rule of law and remaining a hub for global talent. A few themes have emerged in terms of how CEOs are shifting their strategies.
Seeking comfort and influence in numbers. Instead, U.S. leaders seem to be increasingly turning to industry groups, such as the U.S. Chamber of Commerce, and off-the-record gatherings for shared insights and strategies. Leaders want to speak up but feel that doing so as a CEO may make their company a target. Overseas trips and investments are being done with less fanfare, and there’s a desire to connect across industries on shared challenges.
Staying out of politics. While many CEOs have prioritized rubbing elbows with this Administration, I’ve talked to three this week who say they are taking fewer trips to D.C. right now. “I don’t see the point,” one told me at dinner. “Data is not driving decision-making in this Administration.” Then again, there’s plenty of evidence that getting close to the President can pay off, the most recent example being yesterday’s executive order transferring 50% ownership of TikTok’s U.S. operations to investors with close ties to Trump.
Focusing on core values and civility. It might feel as if civility is at an all-time low, but many leaders have hope. I spoke with Points of Light chairman Neil Bush this week about the bipartisan push for civic engagement that his father, George H.W. Bush, imbued in the organization’s mission. Bill Clinton spoke about it in opening the Clinton Global Initiative this week. Sheryl Palmer, CEO of home-building giant Taylor Morrison, underscored the need to engage with those who may not share your views when speaking to us before an audience of leaders at Deloitte’s North America Next Generation CEO program for the latest episode of Fortune’s Leadership Next podcast. “It’s about education, informing, relationships, and perseverance, because none of this stuff happens fast.”
Contact CEO Daily via Diane Brady at diane.brady@fortune.com
