What Trump told CEOs in their private meeting

Former President Donald Trump, Republican presidential candidate, delivers remarks to the press at the National Republican Senatorial Committee building in Washington, June 13, 2024.

Anna Moneymaker | Getty Images

Donald Trump gathered in Washington on Thursday with at least 80 CEOs with a clear pitch: If he is re-elected president in November, CEOs will benefit from tax cuts and loosened business regulations, the people say present at the meeting.

CNBC spoke with people who attended the Business Roundtable's quarterly meeting and others familiar with what happened there, all of whom were granted anonymity in order to speak freely about a private meeting .

Trump said that if he returned to the White House, he would cut taxes, including the income tax, and restore the same economic policies he adopted during his first term, according to people at the meeting.

“We're going to give you more of the same for the next four years,” one person in the room said, describing Trump's message to business executives.

Trump has said he wants to cut the federal corporate tax rate from 21% to 20% if he becomes president, according to a person familiar with his comments.

Trump also mentioned to CEOs a recent proposal he introduced in Nevada to eliminate taxes on workers' tips, people in the room said. Trump then told CEOs about the enthusiasm among informed workers about his proposal, drawing laughter from company executives, according to several people.

Trump spoke for about an hour at the meeting, those present said. The audience included Jamie Dimon, CEO of JPMorgan Chase, Jane Fraser, CEO of Citigroup, and Brian Moynihan, CEO of Bank of America, according to their companies' spokespeople.

Apple CEO Tim Cook was also in attendance, two people in the room said. A spokesperson for Cook declined to say whether he attended the meeting.

President Joe Biden's chief of staff, Jeff Zients, addressed the group earlier in the day, one attendee said.

Representatives for the Trump campaign and the Business Roundtable did not respond to requests for comment before publication.

For Trump and the CEOs in attendance, the meeting represented an effort to repair relations after some distanced themselves from the former president.

In 2017, the Trump administration's key business advisory groups were disbanded after their members began resigning in response to Trump's attempt to equate “both sides” of the Charlottesville, Virginia, protests, including one side was made up of white nationalists. During the January 6, 2021 riot on Capitol Hill, leaders, including members of the Business Roundtable, called on Trump to end the violence.

During Thursday's meeting, Trump also took a dig at Biden. “We need a president who is at the top of his game, and let's face it, this president is not at the top of his game,” Trump said, according to a person in the room.

Trump raised the idea earlier in the day, during a meeting packed with House Republicans, of imposing an “all-tariff policy” that he said would allow the United States to get rid of income tax, according to participants who were granted anonymity to speak in a private meeting. .

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