‘CEOs are shocked’ that JD Vance is Trump’s running mate

The choice of Senator JD Vance as former President Trump’s running mate has raised fears in the American business community that Trump’s populist, anti-business policies could actually prevail in a second term in the White House.

While Trump’s rhetoric during his first term favored working-class Americans, Goldman Sachs alumni who held key positions in his administration maintained tax loopholes for private equity billionaires and fought against escalating trade tensions with China.

Trump’s campaign partner is now an Ohio Republican who is critical of Wall Street and has built a profile as someone seeking to realign the balance of power in favor of working people and away from global corporations.

“CEOs are shocked because it’s a pretty odd choice to try to balance the ticket with (someone) so hostile to business,” Jeffrey Sonnenfeld, president of Yale University’s Chief Executive Leadership Institute, who liaises with business leaders, told Semafor by email.

“As one GOP-friendly CEO told me an hour ago: ‘This is the greatest gift Trump can give Biden right now!’” Sonnenfeld added.

Conservatives have welcomed Vance’s choice, saying his humble background would help Republicans gain traction with working-class voters. “I think they see that with J.D. Vance, he can relate to the average American,” Rep. Kevin Hern of Oklahoma, chairman of the Republican Study Committee, told Semafor.