Republican presidential candidate and former U.S. President Donald Trump gestures as he takes the stage at his caucus night watch party in Des Moines, Iowa, U.S., January 15, 2024.
Evelyn Hockstein | Reuters
DAVOS, Switzerland — Global business leaders may be in the snowy hills of Switzerland, but their conversations keep returning to Washington, D.C.
The topic of Donald Trump has dominated dinners and parties at Davos, with many in attendance at the World Economic Forum mulling the former president’s potential return to the White House after his resounding Iowa caucus victory.
Several business executives have noted a theme in their private discussions during the summit: U.S. industry leaders seem overwhelmingly nonplussed with a second Trump term, while foreign chief executives are terrified — particularly of restrictions on immigration and potential global conflicts.
One prominent U.S. business executive, who asked not to be named because his discussions with foreign leaders were private, said some of the fear may be due to a lack of understanding of the checks and balances built into the U.S. government.
“I’m not sure Europeans understand how weak executive orders are,” that person said. “We have a justice system. Congress will probably be divided. It’s right to be cautious, but it won’t be the end of the world.”
Another U.S. bank CEO privately expressed annoyance with media exaggeration of the threat of a Trump presidency, stressing he’s “all bark and no bite.” The bank chief also dismissed Trump’s refusal to accept the results of the 2020 election as bloviation.
“He’s going to win the presidency,” the CEO predicted. “Many of his policies were right.”
2024 predictions
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.
Adam Galici | CNBC
While JPMorgan Chase CEO Jamie Dimon wouldn’t predict a Trump victory, he echoed his fellow bank CEO’s comments in an interview Wednesday on CNBC’s “Squawk Box.”
“Just take a step back, and be honest. He was kind of right about NATO. He was kind of right about immigration, he grew the economy quite well. Trade. Tax reform worked. He was right about some of China,” said Dimon. “I don’t like how he said things about Mexico, but he wasn’t wrong about some of these critical issues. And that’s why they’re voting for him.”
Still, while Dimon also echoed the sentiment that an apocalypse is unlikely, he did…
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