US CEOs celebrate Trump's US-China trade deal

America's CEOs want all in on China

To illustrate the economic magnitude of the U.S.-China phase one trade deal one had to look no further than at the CEOs and business executives in attendance at the White House on Wednesday.

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Trump's China team: Who was instrumental in the phase one deal

After Trump acknowledged his team of trade advisors, he went on to thank these business titans who are eager for a free and fair trading partnership between the world's two largest economies.

"We have a who's who of the world of business with us," said Trump.

U.S.-China phase one trade deal: Full Text Here 

Combined these titans, including Blackstone's Steven Schwarzman, David Abney of UPS and Boeing's new CEO David Calhoun, collectively represent over $2.3 trillion in market value.

FOX Business takes a look at some of the powerful corporate players in the room.

Blackstone CEO Stephen Schwarzman

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BXBLACKSTONE GROUP60.76+0.61+1.01%

Following the signing ceremony, Schwarzman who served as an intermediary between the U.S. and China during negotiations told FOX Business, he's confident the deal will work. "I think the Chinese had a lot of time to think this one through. Their country is complex, they have the reformers, they have the hardliners, they've come together. I've been talking to the people who have the responsibility of implementing this deal and they're all over it."

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Boeing CEO David Calhoun 

Christopher Goodney/Bloomberg via Getty Images

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BABOEING COMPANY324.15-7.85-2.36%

Just three days into his new job as Boeing's CEO, Calhoun will be tasked with fixing the Max Jet crisis that cost former CEO Dennis Muilenburg his job.

"You'll straighten it out quickly please?, I have no doubt, it is a great company" said Trump to Calhoun.

The Max Jet aside, China is one of Boeing's most important markets and Calhoun made that clear when he thanked the Trump administration for getting the deal done.

"Boeing has a long-standing partnership with China that spans nearly 50 years. We're proud that Boeing airplanes will continue to be a part of this valued relationship, one that has fueled aerospace innovation and sustained manufacturing jobs.

Boeing applauds Presidents Trump and Xi as well as Vice Premier Liu, Secretary Mnuchin and Ambassador Lighthizer for their leadership in building a fair and mutually-beneficial trading relationship between the United States and China" he said in a statement.

Pence: Trump's trade deals are putting America back to work

UPS CEO David Abney

Photo by ERIC PIERMONT/AFP via Getty Images)

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UPSUNITED PARCEL SERVICE INC.118.60-0.01-0.01%

"UPS is doing very well" Trump noted and a deal with China may mean business will get even stronger.

"“The Phase One trade deal is an important first step in strengthening the rules of trade between the two countries and in particular for providing greater trade predictability to UPS’s small and medium sized customers,” said David Abney, UPS Chairman and CEO in a statement. “We urge both the U.S. and China to continue to work together to find common ground that establishes a policy and regulatory framework that promotes a comprehensive, mutually-beneficial business environment.”

Las Vegas Sands - Sheldon & Miriam Adelson

Photo by MANDEL NGAN/AFP via Getty Images

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LVSLAS VEGAS SANDS CORP74.06+0.66+0.90%
WYNNWYNN RESORTS LIMITED151.62-0.59-0.39%

Sheldon Adelson, CEO of Las Vegas Sands, along with his wife Miriam have been longtime and early Trump supporters and fundraisers. The casino operator, like Wynn Resorts, also run properties in Macau China, a major market for gamblers.

Trian CEO Nelson Peltz 

Photographer: Patrick T. Fallon/Bloomberg via Getty Images

Activist investor Nelson Peltz, who most recently shook up the poor performing industrial icon General Electric, has a long track record of fixing broken corporate giants. Trump has no doubt he can do the same with GE. "How's GE?" Trump asked. "You'll straighten it out, you'll straighten it out" Trump added.

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GEGENERAL ELECTRIC COMPANY11.81-0.03-0.25%

Dan DiMicco, fmr. Nucor CEO 

DiMicco, Nucor's longest-serving CEO, after the company's founder, may have been ahead of his time. Trump said on Wednesday DiMicco has been fighting the steel war for "a lot longer than 20 years and now we are winning...finally."

In a 2016, interview with FOX Business DiMicco discussed the cheating ways of the Chinese. "We have been in a trade war with China for 20 years, except there has been an undeclared trade war where China has declared war on us and we have not responded. During that period of time, our GDP has suffered, probably on average 2 percent less than it would have been, we have not had the formation of 20 million jobs that would have happened. The massive trade cheating has to stop."

Fmr. AIG CEO Hank Greenberg and current CEO Brian Duperreault 

 

 REUTERS/Brendan McDermid

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AIGAIG AMERICAN INTERNATIONAL GROUP INC.52.90+0.54+1.03%

AIG, under Greenberg's CEO leadership, grew into one of the world's most powerful insurance giants and was among the first to conduct business in China. Greenberg who was forced out following the backlash of the financial crisis in 2005 got a vote of support from Trump on Wednesday. "If Hank stayed there like he should have, you wouldn't have had the problem that you ended up having with the economy," Trump said.

Current CEO Brian Duperreault was also in attendance.

Continental Resources Founder Harold Hamm 

Aaron M. Sprecher/Bloomberg via Getty Images

The energy tycoon was an early supporter of Trump's as he hit the campaign trail and all the way to a White House win. On Wednesday, Trump said Hamm, who runs Continental Resources, is so skilled he "puts a straw in the ground and oil pours out." Hamm had been rumored to be in the running for Trump's first U.S. Energy Secretary but the role was filled by former Governor of Texas Rick Perry.

Hamm's net worth sits around $10 billion, according to Forbes.

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CLRCONTINENTAL RESOURCES32.66-0.72-2.16%

Visa CEO Al Kelly and MasterCard CEO AJ Banga 

Kelly (Left), Banga (Right)

Visa, Mastercard and American Express were handed a gift when the U.S.-China trade deal was signed. The agreement opens up a new venue for business, as listed in the official trade document.

"No later than one month after a U.S. service supplier notifies China that it has completed its preparatory work, China shall accept the license application of such U.S. supplier, including any license application of Mastercard, Visa, or American Express, and shall make a determination with respect to the application, including an explanation of any adverse determination."

A Mastercard spokesperson tells FOX Business, "China is a vital market for us and we continue to make every effort to secure the requisite license to be able to operate in China domestically. This deal is a step forward in the process."

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VVISA INC.204.70+3.75+1.87%
MAMASTERCARD INCORPORATED323.66+3.36+1.05%
AXPAMERICAN EXPRESS COMPANY131.52+0.97+0.74%

eBay's interim CEO Scott Schenkel 

A quick search on eBay turns up lots of Trump merchandise but the Commander in Chief was particularly impressed with the sale of a pair of sneakers and he let Schenkel know it.

"I sign things and the next night I see them on eBay, they're sold...for a lot of money," said Trump who recounted a specific sale. "Sir, will you sign my sneaker? and two nights later I see it on eBay selling for $5,000" he said.

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EBAYEBAY INC.35.82-0.10-0.28%

Micron CEO Sanjay Mehrotra and Qualcomm CEO Steven Mollenkopf 

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MUMICRON TECHNOLOGY INC.57.66-0.02-0.03%
QCOMQUALCOMM INC.95.91+4.12+4.49%

The CEO of Micron, the leading maker of memory and Qualcomm's CEO, which makes products for the wireless world, are heavily exposed to China. The finalizing of the phase one deal is a win-win for both companies, as well as the companies they supply. That could be why we have seen the tech-heavy Nasdaq run-up nearly 32 percent over the past 52 weeks as investors bet a deal would come together despite its setbacks.

Other CEOs and executives present at the ceremony included;

Darius Adamczyk CEO of Honeywell, Devon Energy CEO David Hager, Jim Fitterling of Dow Chemical and ConocoPhilips CEO Ryan Lance. Additionally, Mary Erodes who runs JPMorgan's Wealth and Asset Management arm and Alan MacDonald of Citi, who holds several roles.

As for the automakers, Ford's Nancy Falotico, President of Lincoln Motor Company and Jeep's head Jim Morrison.

TickerSecurityLastChangeChange %
NWSNEWS CORP.15.23-0.02-0.13%
HONHONEYWELL INTERNATIONAL INC.183.23+0.97+0.53%
DVNDEVON ENERGY CORPORATION25.85-0.59-2.23%
DOWDOW INC.53.34+0.86+1.64%
COPCONOCOPHILLIPS INC.65.070.000.00%
JPMJP MORGAN CHASE & CO.138.20+0.95+0.69%
CCITIGROUP INC.81.12+0.12+0.15%
FCAUFIAT CHRYSLER AUTOMOBILES N.V.13.75-0.14-1.01%

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