Former President Donald Trump faced criticism from top CEOs at the Business Roundtable meeting held on Thursday, with some expressing disappointment in his performance.
What Happened: Trump’s performance at the quarterly meeting was underwhelming, reported CNBC citing multiple CEOs who were present. The CEOs described Trump as “meandering” and “all over the map.”
According to a participant, one of the CEOs who attended the meeting said, “Trump doesn’t know what he’s talking about.” The CEO also noted that Trump failed to provide a clear explanation of how he intended to implement his policy proposals.
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Multiple CEOs said that Trump was notably disorganized, unable to maintain a clear train of thought, and erratic in his discussion. According to two other people in the room, the former President provided few details on how he plans to reduce taxes and cut back on business regulations.
Trump’s energy during the meeting was notably subdued, and there was no visible applause for his remarks. This was in stark contrast to his earlier meeting with House Republicans, where he was described as animated and engaged.
“President Trump was warmly received by everyone in the room and was commended for his policy proposals on deregulation and tax cuts,” said Steven Cheung, communications director for the Trump presidential campaign.
Why It Matters: It was previously, reported that during the same meeting, Trump proposed to eliminate income taxes in favor of an “all tariff policy.” This marked a significant shift in the Republican Party’s economic policy, with Trump advocating for protectionism and tariffs.
In 2023, corporate income taxes generated roughly $420 billion in federal revenues, according to the Congressional Budget Office. Over the past three years, Wall Street has been uneasy with President Joe Biden's vigorous antitrust enforcement, pharmaceutical price caps, and progressive tax policies.
Despite the lukewarm reception from the CEOs, Trump’s presidential prospects seem strong. According to a cryptocurrency-based prediction platform, Trump holds a 56% chance of victory in the 2024 U.S. presidential election, giving him a 21-percentage-point lead over the current President.
Meanwhile, Trump’s legal challenges also continue. Previously, a Yale Law professor suggested that Trump is not yet a convicted felon and can still pursue legal options. The former president is due to be sentenced on July 11 and could face a maximum sentence of four years.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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