US President Donald Trump took his burgeoning second term in the White House to the global stage on Thursday.
Just days after this inauguration, Trump delivered a virtual special address at the World Economic Forum’s 2025 Annual Meeting in Davos, Switzerland, and participated in a public dialogue with four leading chief executives: Stephen Schwarzman, Chairman and CEO and Co-Founder of Blackstone; Ana Botin, Executive Chair of Banco Santander; Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Brian Moynihan, Chair of the Board and CEO of Bank of America.
“Under the Trump administration, there will be no better place on Earth to create jobs, build factories, or grow a company than right here in the good old USA,” Trump said in his address.
In rhetoric and actions, Trump has indicated that the US is entering an era of reduced regulations and enhanced pro-business policies. On his first day in office, for example, Trump issued an executive order that loosened regulations around energy production. The administration, Trump said in his remarks, has embarked on the “largest deregulation campaign in history.”
“There will be no better place on Earth to create jobs, build factories or grow a company than right here in the good old USA.”— US President Donald Trump
Trump’s stance towards the private sectors has increased optimism among business heads. In fact, in a survey conducted in December, the US National Federation of Independent Business found that its Small Business Optimism Index hit its highest point since 2018. “The economic confidence is soaring like we haven’t seen in many, many decades,” Trump added.
Nonetheless, business leaders have also long expressed concern over Trump’s protectionist rhetoric and positions. Trump, for instance, routinely threatens to impose tariffs—which most economists agree are inflationary and suppress economic growth—on major economies like China, Canada and Mexico.
In Davos, the four CEOs questioned Trump on an array of business and geopolitical issues ranging from international regulatory frameworks to global energy production.
In a question to Trump, Schwarzman asked about how the United States might deal with business regulations in the European Union, which has long had stricter rules related to issues such as workers rights and climate impact. Trump urged the EU to “speed up their process,” adding that Europeans “want to be able to compete better, and you can’t compete when you can’t get through the approval process fast.”
Indeed, public and private sector leaders in Europe have been rethinking regulation in order to promote growth on the continent. Late last year, for instance, three of Europe’s largest business federations urged EU policymakers to reform regulation to make sure companies can compete with the US private sector. The federations’ open letter followed the release of a significant report by former European Central Bank President Mario Draghi that warned European competitiveness was waning at an alarming speed.
By: World Economic Forum 2025.
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