Will corporate America finally stand up to the Trump administration? | US politics

During Donald Trump’s first term, US giant corporations were literally ready to turn their backs on the president if they disagreed with them. Weeks of growing national anger over a deadly immigration crackdown in the United States have shown just how much has changed.

Clearly, top US CEOs have remained – mostly – silent during Trump’s second term, even as his administration undermines free trade policies, cracks down on immigration on which many businesses rely, and attacks the Federal Reserve, a pillar of US financial hegemony.

But the administration’s brutal handling of immigration raids in Minnesota and the killing of Alex Pretti in Minneapolis have tested the limits of corporate class silence, revealing a lack of leadership in the face of growing public anger.

A day after federal agents pinned down and shot 37-year-old protester Pretti to death on Jan. 24, a group of 60 CEOs of Minnesota-based companies including Target, Best Buy, 3M and General Mills issued a group statement calling for an “immediate de-escalation” and for law enforcement to “work together to find real solutions.”

“The recent challenges facing our state have resulted in widespread disruption and tragic loss of life,” said the statement, which came after Renee Good, an unarmed woman, was killed by federal agents in Minneapolis.

A separate statement from Michael Fiddelke, the new CEO of Minneapolis-based Target, also did not mention the actions of Pretti, Good or federal law enforcement. “What happened affects us not only as a company, but also as people at Target, neighbors, friends and family members,” Fiddelke said. in question.

The explanations gave results reaction against what many saw as too soft a response given the circumstances. People pointed out that neither Pretti nor Good were mentioned by name. So far in 2026, at least eight people have either been killed by federal agents or died while in Immigration and Customs Enforcement (ICE) custody.

The pressure to say something is mounting, but US CEOs have so far failed to get there. Apple CEO Tim Cook attended the VIP screening of the Melania Trump documentary at the White House on Saturday. in question In an internal message to Apple’s workforce, he said he was “heartbroken by the events in Minneapolis” and said it was “time to de-escalate tensions.” Apple’s employees reportedly said “furious” About Cook’s participation in the screening.

“De-escalation” has become a safe word for U.S. CEOs, according to an analysis by Wall StreetJournal. Meanwhile, protesters are organizing strikes and business boycotts.

Historically, American companies have tried to stay out of politics as much as they can, describing themselves as friendly and neutral to everyone. But as American politics has become more divisive over the past decade, companies have found themselves in an increasingly tight bind. There will be consequences whether they respond or not.

“There’s no good decision. That’s the kind of time we’re in right now,” said Alison Taylor, a clinical associate professor at New York University’s Stern school of business.

Over the past few years, companies have shifted from fearing liberal consumer backlash to concerns about conservative boycotts. The biggest concern of many companies is now that the Trump administration is targeted.

“The risks are actually real, not theoretical,” Taylor said. “The administration uses a combination of public shaming and litigation. Will you be exempt from tariffs, or will your industry be subject to tariffs? Will we favor your competitors? There are many economic tools the administration uses.”

Trump has made clear that he is not afraid to use his sweeping executive powers against his enemies or those he deems “woke.”

Many company executives did their best to maintain friendly ties. Trump had the most powerful tech CEOs attend his inauguration last year, including Jeff Bezos, Mark Zuckerberg and Sam Altman. Paramount and Disney, owners of CBS News and ABC News, respectively, paid millions of dollars to settle defamation lawsuits, and Meta paid the president $25 million for his decision to deplatform Trump following the Jan. 6 insurrection. Amazon recently paid Melania Trump $30 million to get the documentary about her life.

“The government’s voice has become so powerful at the state and federal level that when Paramount and Netflix are talking about buying Warner Bros., the headlines are: ‘Does Netflix have a problem in the White House?'” said Elizabeth Doty, managing director of Third Side Strategies, a think tank and consulting firm that helps companies with public relations. Doty said there was a high-level shift in Trump’s second term toward “engagement and loyalty rather than rules and entrepreneurial competition.”

Reactions from corporate America today are strikingly different from the 2010s and early 2020s, when corporations sought to align themselves with liberal causes like Black Lives Matter, LGBTQ+ rights, and climate activism.

When Donald Trump said there were “very fine people on both sides” after the Charlottesville white supremacist rally in 2017, CEOs began publicly distancing themselves from the president. As climate activism becomes more prominent, companies have pledged to shift towards environmental, social and governance (ESG) investments.

Again, after the killing of George Floyd in Minneapolis, social media was filled with companies making statements supporting Black Lives Matter. JPMorgan Chase CEO Jamie Dimon was photographed kneeling in front of a bank vault. Companies have moved with the tide of racial reckoning, pledging to invest billions of dollars to ensure diversity and inclusion.

The companies’ response to the January 6 insurrection was also swift and significant; Some companies have announced that they will take action. stop temporarily Political donations and expenditures after the rebellion.

But even before Trump was re-elected, the tide was starting to turn. Conservative movement against “woke” politics, including state laws banning diversity, equity, and inclusion initiatives started to take place. Conservative boycotts on social media have fueled backlash against products and companies like Bud Light and Target. Companies have quietly abandoned the diversity teams they established in the wake of George Floyd.

And as Trump began his second term, he re-entered the White House with a vengeance that would shake many companies.

“Companies or brands felt like they were stuck between the left wing and the right wing,” Taylor said. “At the time, the problem was perceived as polarization. There is still polarization today, but it’s more about regime retaliation and how we manage the government’s response to the public’s response.”

Last week, Trump, through his personal lawyer, filed a lawsuit against JPMorgan and Dimon for “closing his bank” after the US Capitol riot. The lawsuit comes just after Dimon spoke in defense of Jerome Powell, the chairman of the Federal Reserve, who is under criminal investigation by Trump’s justice department. Dimon said reducing the Fed’s independence was “not a good idea,” to which Trump quickly responded: “What I’m doing is fine.”

But Doty said speaking out against issues like what’s happening in Minnesota isn’t just about “waking up” consumers and workers and threatening the federal government. Even more is at risk when key institutions and principles are cast aside without consequence or criticism.

“Due process, the rule of law, civic spaces and adherence to the constitution are all vital to the environment [corporations] “The big choice right now is: Are we going to be an economy based on loyalty and commitment, or are we going to be an economy based on loyalty and commitment?” Doty said. [one] Is it based on institutions?”