U.S. business leaders
express concerns to Trump about travel ban
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[February 04, 2017]
By Emily Stephenson and David Shepardson
WASHINGTON (Reuters) - Chief executives of
major U.S. companies huddled with President Donald Trump at the White
House on Friday and some of them expressed concern about a travel ban on
people from seven Muslim-majority countries traveling to the United
States.
Business leaders said afterward that the group, which included Jamie
Dimon of JP Morgan Chase & Co and Indra Nooyi of PepsiCo Inc, discussed
bank rules, tax reform, and objections to Trump's week-old ban.
Some companies are worried that the travel restrictions will impact
their employees or create uncertainty that could rattle markets. Tech
companies also have broader concerns about Trump's immigration policies
because of the number of foreign workers they employ in the United
States.
The U.S. business community has been divided in their approach on taxes
and immigration, and some leaders are wary of working with a president
who uses his platform to attack companies that vex him, such as
threatening penalties for manufacturing outside the United States.
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Homeland Security Secretary John Kelly delivered an update to the
corporate leaders on the travel restrictions, which caused chaos at
major U.S. airports and are now facing court challenges.
"There was obviously concern by different people and explanations and
that issue had to be covered and was covered," Blackstone Group Chief
Executive Stephen Schwarzman, who leads the advisory group, said on Fox
Business.
Participants including Elon Musk of Tesla Inc had said before the
meeting that they would raise concerns with Trump about the travel
crackdown.
The meeting, which also included Mary Barra of General Motors Co and Jim
McNerney, formerly of Boeing Co, convened a business advisory panel that
Trump announced in December.
Uber CEO Travis Kalanick quit the group under pressure from activists
over the order. Musk defended his own decision to participate on Friday,
saying that going to the meeting did not mean he agreed with Trump's
actions.
The White House said in a statement on Thursday evening that did not
mention Uber that Trump "understands the importance of an open dialogue
with fellow business leaders to discuss how to best make our nation's
economy stronger."
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![](../images/020417pics/busine67.jpg)
President Donald Trump talks with BlackRock CEO Larry Fink as he
hosts a strategy and policy forum with chief executives of major
U.S. companies at the White House in Washington February 3, 2017.
REUTERS/Kevin Lamarque
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Executives from Ford Motor Co also criticized the ban, but others, including
General Motors and JPMorgan Chase have not taken a position.
SPLIT ON TAX REFORM
Trump has also met with executives from the U.S. pharmaceutical and auto
industries as part of a push to step up U.S. job creation.
Division in the corporate world is also developing over taxes. Boeing Co and
General Electric Co on Thursday joined a group in support of a congressional
plan to tax all imports. But that plan, which does not have universal support
among Republicans, is opposed by many U.S. retailers, which say it could raise
prices for consumers.
"If you're a big U.S. manufacturer and exporter, you love it. And if you're a
retailer bringing a lot of your stuff in, it has ramifications for you," Jack
Welch, the former GE chief executive, said on Fox Business after the meeting.
"It's not a simple issue."
Republican leaders say tax reform is a top priority, but they have acknowledged
it could take until the end of 2017 or longer to finish legislation.
"If I were a company, I'd be worried about tax reform," said Bernie Williams,
chief investment officer at USAA Investment Solutions, in San Antonio.
![](http://archives.lincolndailynews.com/2017/Feb/04/images/ads/current/ldn_more1_sda_121715.png)
The White House meeting with the group is also set to cover trade, regulatory
relief and infrastructure.
(Additional reporting by Dustin Volz in Washington,; Jennifer Ablan in New York
and Ross Kerber in Boston)
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