Trump Meets With Top CEOs To Brainstorm "Jump-Starting" US Economy, Creating Jobs

Tyler Durden's picture

Today at 10:30am, president Trump will summon some of America’s most prominent corporate executives to the White House Thursday, in a roundtable brainstorming session whose purpose is to come up with policy ideas meant to facilitate trade and taxes, boost job creation and generally jump-start the US economy.

According to press reports, Trump will split the group of executives, among which Johnson & Johnson’s chief executive officer, Alex Gorsky, and David Farr, chairman of Emerson Electric, into four working groups to come up with recommendations on deregulation, workforce training, infrastructure, taxes, and trade. Vice President Mike Pence and White House aides will meet with the individual working groups and compile their recommendations for the president ahead of his meeting with the full group of executives.

According to Axios, which cites a planning document, the participants - and groups - are as follows:

  • Tax and trade team: Treasury Secretary Steve Mnuchin; top economic advisor Gary Cohn and his aides Jeremy Katz and Shahira Knight; top trade advisor Peter Navarro; Michael Dell, the CEO of Dell Technologies; Inge Thulin, CEO of 3M; Kenneth Frazier, CEO of pharmaceutical company Merck & Co.; Mark Fields, CEO of Ford; Alex Gorsky, CEO of Johnson & Johnson.
  • Regulatory reform team: Budget Director Mick Mulvaney; senior policy advisors Stephen Miller and Andrew Bremberg; Lockheed Martin CEO Marillyn Hewson; Whirlpool CEO Jeff Fettig; International Paper CEO Mark Sutton; Emerson Electric CEO David Farr; Harris Corp. CEO Bill Brown; and Campbell Soup CEO Denise Morrison.
  • Infrastructure team: Transportation Secretary Elaine Chao; Gary Cohn will float into this session as well; former Bush Administration official DJ Gribbin; Caterpillar CEO Doug Oberhelman; Corning CEO Wendell Weeks; Nucor Corp. CEO John Ferriola; US Steel CEO Mario Longhi; Veresen Inc. CEO Don Althoff; Archer Daniels Midland CEO Juan Luciano.
  • Workforce of the future: Ivanka Trump; nominee for Commerce Secretary Wilbur Ross; Small Business Administrator Linda McMahon; Dow Chemical CEO Andrew Liveris; United Technologies CEO Greg Hayes; LiveOps CEO Keith Leimbach; Altec CEO Lee Styslinger; General Dynamics CEO Phebe Novakovic; assistant to the President, Reed Cordish; Dana CEO James Kamsickas.

The genesis of the idea comes from Jared Kushner, who originated the concept of working sessions. A key part of Kushner's job has been outreach to the private sector. He thinks government needs to find innovative ways to work closer with the private sector, Axios adds. Ivanka Trump will also participate in today's session.

Trump has used previous meetings with companies to encourage corporate leaders to build their products in the U.S., offering tax breaks and lower regulation to bring down costs -- and warning that he wants to raise tariffs on products produced overseas. The heads of labor organizations, automotive firms, national retail chains, drug companies, and airlines are all among the groups who have met with Trump in the West Wing in recent weeks.

"As a successful businessman himself, the president knows that if we’re going to get the country back to work, we need to hear directly from job creators what is holding them back and, where appropriate, take steps to remove the barriers," White House press secretary Sean Spicer told reporters on Wednesday. "As you can tell by the structure of the meeting, the president is expecting these interactions to lead to real action being taken by the administration," he added.

It wasn’t immediately clear whether Trump would address his plans to overhaul the tax code, which he has said he will deliver within weeks, or a border-adjustment tax proposal under consideration by House Republicans, which would shift the tax burden from exporters to importers. As Bloomberg adds, republican leaders in the House, including Speaker Paul Ryan, argue a border-adjustment tax would benefit American manufacturing while providing revenue to make up for losses from reducing corporate tax rates. Several manufacturers, including Dow Chemical, are actively lobbying for the plan, which Trump has called "too complicated." Opponents, including net importers like Walmart, oppose it and warn it will raise taxes on American consumers.

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Shocker's picture

Good, lets get this economy back and rolling.

Companies hiring: http://www.dailyjobfix.com

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barndoor's picture

During the campaign, Trump stated that he had all the ideas required to MAGA.  Why is he wasting his time with all of these other losers?  Was he not being 100% honest with us?

barndoor's picture

I guess he had to invite other people to ensure that there was at least one brain in the room.  Otherwise the session wouldn't get very far.

SubjectivObject's picture

Howabout some non top business leaders doing real innovation.

Like the ones developing new products and markets.

Why does he think the we who elected him accept the ideas/advice of crony status quo ... leaders?

This Trump guy has a certain, um, thickness.

Life of Illusion's picture

Trump economic adviser Gary Cohn 

 

keep a eye on what he does

Stef1304's picture

It's to further involve major companies in his political agenda. 

And another way to gets his message accross the board.

Also, u can bet that every CEO will have his staff preparing a lot of ideas before hand, so that he can play smarts during the session.

So, there is NOTHING to loose to do that.

In short, Trump is pushing his message further through. 

Also, i'm sure, he will promote companies makes the decision into creating new american jobs.

In fact, it's the equivalent of a full fledged media campaign.

Part of the deal : creatiing job = promotion on TV by 45th POTUS.

That does NOT coost him much time or efforts, just time on TV.

 

 

Falconsixone's picture

I wonder if Don knows he already has a small business administration?

Falconsixone's picture

Yeah, he thinks everyone loves working for "The Big Boys" so they can say "Look At Me, I Work At Huge-A-Tech".

Whoa Dammit's picture

After 50 years of pols creating committees to look into job creation, wherein nothing happens but the addition of more government workers to sit on and assist with said committee, I find Trumps approach of going to the source (CEOs) and having brain storming sessions quite refreshing.

Chris Dakota's picture
Chris Dakota (not verified) Whoa Dammit Feb 23, 2017 12:51 PM

Reject the job killing Tech CEO's.

Including Peter Thiel.

Know someone who works at his startup (with PayPal Mafia investors)  in San Fran that has put small insurance brokers nationwide out of business and now says most jobs will ultimately be automated. They have cut thousands of jobs and will move to Arizona with a few saying "it is too expensive to do business in San Francisco."

SF real estate is going to collapse, all these Tech jobs were fake.

Afterall San Francisco has always from the begining, and to this day, been a "Boom/Bust town".

SweetDougisaTwat's picture

I notice that you weren't invited.

rich1657's picture

I guess you know nothing about Technical Working Groups or Stakeholder Engagement.

hotrod's picture

JUMP START WHAT?  I thought everything was great.

BlueHorseShoeLovesDT's picture

Cleanup after Trump, there is a job for ya

Totally_Disillusioned's picture

While Trump sets pace in Washington, the Senate and House have taken TWO recesses since inauguration. Reduction in corp tax rates and reform in individual rates would start the economic recovery.  That would then lay the foundation for the current work POTUS is pursuing with these CEOs.  As long as McConnell/Ryan slow walk POTUS agenda...nothing's going to happen and brilliant ideas will die on the table.

BabaLooey's picture

IF..........you follow the leftist effluvium.................

Trump is playing golf more than Soetero was, and his "costs" for guarding him are "eclipsing the cost of Soetero" already....

Scanning the left/resistance/anti-Trump media is like walking into a men's room and smelling post a cabal of shit takers freshly voided loads......

 

MEAN BUSINESS's picture

Reduce income tax to ZERO. Business and individuals. In 2005, individuals, businesses, and non-profits took 6 billion, yes billion, hours complying with the federal tax code at a cost of ~$265 Billion.

#irslivesmatter - retweeted nobody ever

cheer up - President Trump wants you to kill the irs. Happy hunting : )

hoyeru's picture

uh huh. And how is USA gonna fund all its wars on terror then? They literally cost trillions you know.

MEAN BUSINESS's picture

Those are 2005 #'s. Since then the federal tax code compliance has cost the economy trillions of dollars. KNOW what I mean?

see fairTax.org or read H.R. 25

DuneCreature's picture

~~~~ [ If You Hate The Trumpster,...You Might Be A Deep Stater ] ~~~~

If you hate borders .... You might be a deep stater.

If you hate law and order. ........ You might be a deep stater.

If you want your kids to grow up and have jobs and more kids. .... You might be a deep state hater.

If you want your money to be worth the same tomorrow as it does today. ... You might be an enemy of the deep state / FED / NWO.

If you want your kids to not end up as pizza topping .... You hate the deep state and need to be censured, imprisoned or dead.

Let's listen to my all time favorite commentator and train wreck disaster documenter - Lionel (Oooooh, the Humanity!) Nation

https://www.youtube.com/watch?v=bEouLVMKMJI

Live Hard, If You Like Your State Of The Nation Unfiltered You'll Love The Lion(el), Die Free

~ DC v5.0

BigFatUglyBubble's picture

Who do you think funds the deep state?  Might want to check out Trump's cabinet and financiers. 

DuneCreature's picture

Don't get me wrong, I've never thought Trump was God's gift to humanity. ... He's a pirate, just like everyone else in DC. I just think he's a nationalist pirate and not a globalist pirate. .... The globalists want to enslave virtually everyone. ... I think Trump may split the booty a little more evenly. ....... The NWO want to cook the golden goose for dinner.

Live Hard, If I Have To Be Shanghaied And Go Sailing, I Just Want To Be On A Pirate Ship As Part Of The Crew Not A Pirate Slaver Ship As Part Of The Cargo, Die Free

~ DC v5.0

lester1's picture

Why didn't Obama ever do working groups like this ???

 

Trump is light years ahead of Obama when it comes to jobs, the economy and making deals.

SubjectivObject's picture

He did it as red herring for his empty suit administration.

shovelhead's picture

Trump talking to people that actually run companies?

I thought Presidents were supposed to get all their guidance from think tanks and academics, those kids who never left school.

Man, these sure are crazy days...

Son of Captain Nemo's picture

Creating Jobs???...

What a great topic of debate the American voter never heard a word about during the debates other than from the third-party candidates on a real plan to create jobs!

But how is President Trump going to tell the American people that a military uniform and building bombs isn't going to achieve desired success and be the ONLY "real job creator" for the U.S. economy after 15 years of "9/11"? If he doesn't rein in the CIA/DOD by telling the American people that under his administration we can't be successful in those endeavors ANYMORE because we no longer control the energy with the $$$ it will be Yemen "Mission Accomplished" as far as the eye can see -TILL IT CAN'T!

Nothing like "hittin the ground runnin" after the fact!!!

RSDallas's picture

Dog and Pony show.  Smile!!!

BigFatUglyBubble's picture

I better buy some Ivanka Trump Brand (TM) Teeth Whitening Strips.

AmadausVoltaire's picture

So, we are going to imitate China's state-run capitalism? Oh wait, they got the idea from us. Carry on.

Dg4884's picture

Such night and day (yes, pun intended.) between this and the former administration.  Trump is taking every bit of this seriously and working toward and end game plan for the betterment of citizens imho.  OBlamo was still going to lavish parties celebrating the next coming of the black Jesus.  I am hoping that The Don can get past all of this crap being thrown at him from every direction and work toward a more stable country.

 

OFF TOPIC:  Okeefe dumping CNN shitstorm today!

ThanksIwillHaveAnother's picture

Trump should E.O. National Right To Work then textile industry would move back and mainstreet could buy high quality clothing again.

sharonsj's picture

Don't be stupid.  Lowering or eliminating the national minimum wage will not bring back those jobs when a textile worker in Bangladesh gets 50 cents an hour.

ms8173's picture

What are the CEO's suppose to say....  I mean they are all Millionaires!!!  They don't give a shit about hiring workers.... when was the last time they showed loyalty to the workers they have??? Just a bunch of psychopaths that have no clue how to run a business other than buying another company and laying workers off.  

CRM114's picture

Point of Order: They are sociopaths, not psychopaths.

Other than that, I agree ;)

RagaMuffin's picture

No reference to small business = NO CHANCE

MuffDiver69's picture

Small business has already been in. Fact of the matter assholes are going to bitch...Maybe he could be doing minority outreach today or amnesty

RagaMuffin's picture

If small business is the driver of jobs and this is combined with the businesses closing faster than being created as reported here on ZH, where do most jobs come from?  Whose muff is your head stuck in? 

Falconsixone's picture

Tax cuts for the rich price goes higher.

MuffDiver69's picture

I wonder what would have been on Clintons itinerary today....The immediate impact on jobs will be repealing the Obamacare regulations that hit small business hardest...Replacing it is not the issue if you legalize bare minninmum health plans until solution is in place...The rest are on Medicaid anyways and that's shitty coverage brought to you by third world doctors...

For all the Clinton Clit Lickers, the difference with Trump is he knows business,,.He knows the bullshit I go through...You can't learn that shit in school...

Davidduke2000's picture

The economy worldwide is like 90 years old man's dick, you can bring 100 exotic dancers to move him but nothing would happen, the salami is dead. 

 

The only way for the economy to prosper is to lower the value of the dollar by 50% , back it by gold and other precious metal to be worth something and stop the fake numbers that nobody believes, but until these things afre done , you can use make up, band aid or any other gimmicks and nothing would change the economy is dead and I am not spending a cent or buying a single stock of bond. CASH & GOLD

PoasterToaster's picture
PoasterToaster (not verified) Davidduke2000 Feb 23, 2017 8:58 AM

Why call yourself David Duke?

wobblie's picture

That's what they want you to think.

baldknobber's picture

I'm going to drink every time I hear Government Investment, and pass out by noon

Mustafa Kemal's picture

We had a drinking game during the debates. Every time Hillary introduced  a red herring we took a drink. Got silly real fast.

allinwood's picture

Trump and his banker buddies are so far removed from the common man, it's not even funny. Same as it has been......

PoasterToaster's picture
PoasterToaster (not verified) Feb 23, 2017 9:02 AM

All we need is a real tax cut to get started.  25k standard deduction, 15% on the excess, get poor people (the 90%) upwardly mobile and buying property again.  That would keep their system together a few more years.

End the Fed is the real answer.  Destroying the "banks" would be the outcome.  No debt, no slavery.

Troy Ounce's picture

 

 

Why create jobs? Just invest in the stock exchange. Hands down superior wealth creation 

As Trump said in his last speech: there is so much trust in the American economy and he is running the country so well, just look at the fact that the stock exchange is at an all time high.

Can't argue with that, can you?

Problem is that there is no medication against stupidity.

Quivering Lip's picture

I can hear it all now. Well unfortunately all future jobs will be automated machines and software algorithms. Fortunately for us we'll be buying back more shares with any tax cut or repatriated dollars, we also might be doing some M&A with those funds consolidating everything even more. Don't worry though the S&P should be trading 3000 by the end of your first term, and you can take full credit for that.

orangegeek's picture

Not many IT companies in the group.

 

Bye bye H1Bs.

 

No presence of IT companies - I guess their needs are addressed.  LMFAO!!!