NextFin news, On Monday, September 22, 2025, a confidential survey conducted by the Yale School of Management among 70 CEOs attending a CEO Caucus in Washington, D.C., found that a majority view President Trump's tariffs and immigration policies as detrimental to their businesses.
The survey revealed that 71% of the CEOs said tariffs imposed under the Trump administration have harmed their companies. Additionally, 74% agreed with court rulings that the tariffs were illegal as executed. The CEOs also expressed concern over immigration policies, particularly a new $100,000 fee for H-1B visas announced via an executive order on Friday night, which affects the ability of tech companies to hire overseas talent.
Furthermore, 80% of the surveyed executives stated that President Trump was not acting in the best interest of the country by pressuring Federal Reserve Chair Jerome Powell to cut interest rates. The survey also showed 76% of CEOs believe Health Secretary Robert Kennedy Jr.'s policies put U.S. public health at risk.
The CEOs who participated in the survey included leaders from major companies such as General Motors, Pfizer, and Motorola Solutions, although the respondents' identities were not disclosed. The meeting was organized by Yale's School of Management and took place last week in Washington, D.C.
Business leaders reportedly remain cautious about publicly criticizing the administration due to fears of political retribution, a contrast to more vocal opposition during Trump's first term. Jeffrey Sonnenfeld, a Yale management professor who organized the event, noted that many CEOs are afraid of being marginalized by the White House.
In response, White House spokesman Kush Desai stated that the administration is working closely with business leaders to restore America's economic dynamism through tax cuts, deregulation, and energy policies, highlighting trillions in investment commitments as evidence of a pro-growth agenda.
The survey results come amid broader concerns in the business community about the impact of tariffs and immigration restrictions on supply chains, labor availability, and investment decisions. Many CEOs indicated reluctance to increase domestic manufacturing investments under current policies.
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