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Donald Trump is dangling tax cuts and less red tape to win over top CEOs

Sean Rayford/Getty Images; Chelsea Jia Feng/BI

  • Donald Trump met with some of America’s top CEOs on Thursday.

  • The former president promised to cut taxes and red tape in an effort to win over corporate America.

  • Apple CEO Tim Cook and JPMorgan boss Jamie Dimon were among those present at the event.

Donald Trump made his pitch to some of America’s top CEOs on Thursday, promising to cut taxes and red tape in an effort to win over corporate America.

The former president was among the speakers at a Business Roundtable event in Washington, DC, attended by Wall Street titans including JPMorgan CEO Jamie Dimon, Bank of America’s Brian Moynihan and Citigroup head Jane Fraser.

Stephen Moore, Trump’s economic adviser, said Apple CEO Tim Cook sat in the front row at the event, Reuters reported.

The presumptive Republican presidential nominee laid out his economic agenda as part of an hour-long conversation with conservative commentator Larry Kudlow, according to The Financial Times.

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Trump pledged to consider cutting the top corporate tax rate from 21% to 20%, The Associated Press reported, citing a person familiar with Trump’s comments.

The FT reported that Trump also emphasized deregulation and a desire to use tariffs as a “negotiating tactic” with other countries.

Joe Biden, Trump’s likely opponent in the November election, did not attend the Business Roundtable event as he is attending the G7 summit in Italy.

Standing in for the president, Biden’s chief of staff, Jeff Zients, highlighted the administration’s efforts to rebuild the economy in the wake of the pandemic and said the Federal Reserve’s independence has boosted American capitalism, according to AP.

The Wall Street Journal reported in April that Trump allies are drawing up plans to wrest control over certain monetary policy decisions from the central bank.

While the former president’s reputation on Wall Street hit rock bottom in the wake of the Jan. 6, 2021, Capitol riots, top CEOs have softened their tone toward him in recent months.

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Dimon was highly critical of Trump when he left office, but said earlier this year that the billionaire businessman – and now convicted felon – had been “more or less right” on certain issues, including NATO and immigration.

Correction: June 14, 2024 – An earlier version of this article misspelled the name of Biden’s chief of staff. It’s Jeff Zients, not Zients.

Read the original article on Business Insider

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