'It's like kumbaya:' Trump's genial
private meetings with CEOs jar with public attacks
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[March 08, 2017]
By Ginger Gibson and David Shepardson
WASHINGTON (Reuters) - When the bosses of
some of the world's largest pharmaceutical companies headed to
Washington in January to meet U.S. President Donald Trump, it had all
the makings of a potentially hostile meeting.
Just weeks before, Trump had sent drug stock prices plummeting after
accusing the companies of "getting away with murder" by charging too
much for medicines.
But the Trump who greeted chief executives of Johnson & Johnson <JNJ.N>,
Novartis <NOVN.S>, Merck <MRK.N>, Eli Lilly <LLY.N>, Celgene <CELG.O>
and Amgen <AMGN.O> on Jan. 31 was a surprisingly genial host who even
gave them a personal tour of the Oval Office, according to several
participants in the breakfast.
“There is no question that it was better than it could have been or we
thought it could be," said one industry insider familiar with the
meeting.
Trump did not repeat his public attacks on the industry. Instead, he
focused on "outdated" regulations that drive costs up for drugmakers,
according to participants interviewed by Reuters. The CEOs left with
Trump's word that he would streamline regulations and reform the high
U.S. corporate tax rate.
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Since taking office on Jan. 20, Trump has held at least nine meetings
with groups of business leaders, including automakers, airlines,
retailers and health insurers. In early morning or late-night tweets and
in speeches, Trump has lambasted many of these companies for cost
over-runs, or high prices, or foreign manufacturing, often knocking down
their share prices. (See the effects of Trump's tweets on stock prices
here http://tmsnrt.rs/2ibdFSF)
But Reuters interviews with nearly a dozen executives and lobbyists who
have taken part in these meetings or have been briefed on them reveal a
Trump who is very different from his uncompromising and demanding
@realDonaldTrump Twitter handle.
When he meets the nation's top chief executives in person, he is a mix
of charm and cajoling. This Trump is flexible and inquisitive, a
schmoozer who remembers birthdays and often lavishes praise on their
companies, said the people, who spoke on condition of anonymity so they
could freely discuss private meetings.
This private side of Trump sheds light on why many CEOs have expressed
confidence that the Republican president is good for business, despite
his share-denting public attacks. As recently as Tuesday, Trump tweeted
he was working on a system to increase competition in the health
industry and lower drug pricing, sending pharma shares lower.
In the White House meetings, Trump focuses much of his talk on cutting
regulations, the sources said, underscoring one of his administration's
key priorities - getting rid of rules imposed by his predecessor Barack
Obama. He typically asks which regulations are holding businesses back
from adding new jobs and promises to resolve the issues, executives say.
"He said one thing for the cameras and the door shuts and then it's like
kumbaya," said one person who was briefed on a meeting between Trump and
a group of CEOs.
"He likes to be seen as engaging and buddy buddy with other big
important business leaders," said this person.
A former businessman, Trump runs his closed-door meetings with CEOs as
if they were a corporate board meeting, attendees said. In contrast to
his doctrinaire tweets, he likes to seek input from everyone at the
table, and compared to former presidents Barack Obama and George W.
Bush, conversations are less scripted.
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Trump’s approach to these meetings is “one of listening and not
lecturing”, said a senior White House official who has participated in
industry meetings. “I’ve seen a president who is listening and asking
questions to get to how he can create a thriving economy,” the official
said.
An Amgen spokeswoman said Trump made it clear that he wanted to work
with the company on U.S. job creation and biotech innovation.
Representatives of the other drugmakers declined to comment.
SHOWING OFF THE DRAPES
Because so little is known about how Trump interacts privately with
CEOs, trade groups and company officials have begun to swap tips on how
to approach their meetings with him.
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![](../images/030817pics/news_o21.jpg)
U.S. President Donald Trump meets with pharmaceutical industry
representatives at the White House in Washington, U.S. on January
31, 2017. REUTERS/Yuri Gripas/File Photo
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“There is this undercurrent of information sharing about what to
expect, what to do,” said one trade group official who prepared CEOs
for a recent meeting with Trump. He said he has gotten a flurry of
calls from other industries next in line for a White House visit.
At the end of most meetings, Trump leads CEOs into the Oval Office,
showing off paintings, sculptures and the furniture, as well as the
rug and curtains he has picked out. He also points out a bust of
Martin Luther King Jr., which he inherited from Obama. Then he takes
a group photo behind the desk.
“He becomes tour guide and brings them over to the Oval Office,” the
same official said. “He’s very proud of the Oval Office.”
The White House official said Trump recognized the “awe” of the Oval
Office.
CHAIR FOR GM, BIRTHDAY WISH FOR FORD
Chief executives of Detroit's top three automakers - General Motors
Co <GM.N>, Ford Motor Co <F.N> and Fiat Chrysler Automobiles NV
<FCHA.MI> - were pleasantly surprised when they went to the White
House for a breakfast with Trump on Jan. 24.
Since his election, Trump has frequently attacked the car companies
for building in Mexico and warned U.S. firms would no longer be able
to move U.S. jobs abroad "without consequences."
When Trump entered the Roosevelt Room, he greeted GM CEO Mary Barra
with a playful tap on the shoulder as he gently prodded her to add
jobs in the United States and later pulled out her chair before the
meeting started, a review of the video transcripts of the first part
of the meeting shows.
He greeted Ford CEO Mark Fields with a "Happy Birthday. It's his
birthday ladies and gentlemen." Trump said it was a "great honor" to
see Fiat Chrysler CEO Sergio Marchionne.
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Trump did not specifically ask them to build plants in the United
States - as he had tweeted he would before the meeting - but instead
listened to their complaints about regulations and indicated a
willingness to help them, people briefed on the meeting said.
Ford declined to comment and referred to Fields' comments to dealers
in January that Trump had asked for a list of regulations that
automakers wanted cut or kept.
GM CEO Mary Barra said in a speech last week that Trump “really
listened” to the automakers, while Marchionne told reporters at the
Geneva auto show on Tuesday that Trump was “quite willing to make
our lives easier” in terms of compliance and taxes in order to
encourage U.S. job creation.
Trump has been complimentary of his high-profile guests - and at
times playful.
After Denise Morrison, chief executive of Campbell Soup <CPB.N>,
introduced himself in one of those meetings, Trump quickly
responded: "Good soup."
At another, after Target Corp <TGT.N> CEO Brian Cornell spoke, Trump
responded by pronouncing the name of the company as “Tar-Jay,” a
common joke to make the retailer sound more fancy.
(Reporting by Ginger Gibson and David Shepardson in Washington,
Additional reporting by Emily Stephenson in Washington and Emily
Flitter in New York, Editing by Soyoung Kim and Ross Colvin)
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