President-elect Donald Trump’s inauguration committee has received seven-figure checks from major corporations, including Ford, General Motors, Stellantis, Stanley Black & Decker, and Apple’s Tim Cook. Despite these donations, companies may face disruption due to new tariffs proposed by Trump.
Trump’s trade policies aim to protect US businesses and create jobs but economists warn that new tariffs could lead to higher prices for consumers and increased inflation. Proposed tariffs range from 10% on universal goods to 400% on Mexican imports. Companies with manufacturing plants abroad, like Stanley Black & Decker, are cautious about the impact of these policies.
The “Big Three” automakers — General Motors, Ford, and Stellantis — and Toyota have donated $1 million each to Trump’s inauguration. However, with tariffs on Mexico and China also under consideration, their plans for new manufacturing plants may be hindered. Apple’s Cook has declined to comment on the impact of tariffs on his company, which primarily manufactures in China.
Trump’s campaign featured a mix of pro-business and populist proposals, but some donors are worried about the potential consequences of his trade policies. “There’s going to be winners and losers,” said Republican strategist Alex Conant. The corporate donations may not directly influence Trump’s policies, but they will be closely watched as he prepares for his second term.
Trump’s team expects to raise around $500 million by summer, signaling their readiness to support allies and oppose opponents in the upcoming term.
Source: https://www.axios.com/2025/01/16/trump-tariffs-inauguration-corporate-donors