JPMorgan's Dimon, UPS' Abney lead Trump's CEO meeting on trade

By PoliticsFOXBusiness

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Sen. Chuck Grassley, R-Iowa, on President Trump's deal with Mexico, the future of USMCA, Trump administration trade negotiations with China and President Trump's approval ratings.

President Trump had tough words for Iran, China and even the Federal Reserve on Friday, all ahead of a meeting with some of the nation’s top CEOs and before the rollout of a new health care plan intended to help small businesses offer more affordable options to employees.

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JPMorgan CEO Jamie Dimon, UPS CEO David Abney, Union Pacific CEO Lance Fritz and Steelcase CEO James Keane met with Trump and members of his administration at the White House to discuss a number of key policies and economic priorities. Joshua Bolten, President and CEO of Business Roundtable also attended.

TickerSecurityLastChange%Chg
JPMJP MORGAN CHASE & CO.107.72+2.52+2.40%
UPSUNITED PARCEL SERVICE INC.115.30+2.36+2.09%
UNPUNION PACIFIC CORPORATION166.25+3.80+2.34%
SCSSTEELCASE15.71+0.34+2.21%

“Business Roundtable CEOs and President Trump had a productive discussion about shared goals of continuing robust U.S. economic growth, reforming our broken immigration system, addressing China’s unfair trade and investment practices, and passing the U.S.-Mexico-Canada Agreement (USMCA) to preserve and strengthen North American trade.”

Business Roundtable statement provided to FOX Business

Dimon, who is also CEO of Business Roundtable (BRT), is a frequent fixture in Washington, D.C. to push pro-business policies. The BRT members run corporations with more than 15 million employees and more than $7 trillion in annual revenues.

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Crafting policy solutions for critical issues that benefit the U.S. is key for CEOs, many of whom are concerned that a U.S. trade war with China or Mexico will ultimately come back to bite the U.S. economy. Earlier this week, the group’s quarterly survey noted trade as the biggest risk to the economy, as reported by FOX Business.

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TickerSecurityLastChange%Chg
WMTWALMART INC.112.99+0.30+0.27%

“Tariffs in place now are a significant burden -- and will be for some time -- and concern as far as the impact on the U.S. and Chinese economies,” said Tom Linebarger, chief executive of engine-maker Cummins. "If the U.S.-Mexico-Canada deal were to pass, that would boost the economy,” he said.

Earlier this month, Walmart CEO Doug McMillon echoed similar concerns telling FOX Business that he’s “paying close attention to” trade in respect to China and Mexico and hopes the negotiations get resolved quickly.

Suzanne O'Halloran is Managing Editor of FOXBusiness.com and is a graduate of Boston College. Follow her on Twitter @suzohalloran

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