Trump disbands business advisory council after top CEOs abandon him
Offended by President Trump's controversial remarks comparing white supremacists to the protesters who oppose them, his main council consisting of top CEOs disbanded. Trump soon announced his decision to end the council altogether to avoid putting pressure on his executives. The development comes as Trump is facing widespread criticism for not naming right-wing groups responsible for the Charlottesville attack. Let's see what happened!
Trump ends it in a tweet!
Businesses in Trump's advisory council
Although ceremonial in nature, the idea behind advisory councils is to provide businesses a direct line to the President. Under Trump Presidency, they have often been asked to defend unpopular policies, have only met a few times and were seen to not be particularly effective. Those including SpaceX CEO Elon Musk had earlier quit the council protesting Trump's withdrawal from the Paris Agreement.
What transpired?
It all started when Trump's close aide, Stephen A Schwarzman, CEO of the Blackstone Group made a conference call to other members in the President's Strategic and Policy Forum. After discussions, CEOs of a dozen prominent companies decided to disperse. A number of CEOs in the manufacturing council including Intel CEO Brian Krzanich and Campbell Soup's Dennis Morrison had also resigned earlier.
The Council justifies its move
"We believe the debate over forum participation has become a distraction from our well-intentioned and sincere desire to aid vital policy discussions improving the lives of everyday Americans. As such, the president and we are disbanding the forum" , the Council's official statement noted.
What does this mean?
Although businesses were opposed to Trump's policies relating to immigration and his withdrawal from the Paris climate agreement, they had continued with him in an advisory capacity. According to Anat R Admati, a Stanford Professor, Trump's stance on Charlottesville ruined his relationship with them. On the bright side for Trump, disbanding the council leaves him more room to govern without interference from business giants.
