Business Roundtable CEO Josh Bolten: Tariffs overall have not been good for the economy

Summary

Josh Bolten, CEO of the Business Roundtable, discusses CEO sentiment, tariffs, and the role of government in AI and national security. He argues that tariffs are generally detrimental to the economy as they act as taxes on inputs, though they can be justified for national security reasons. He also emphasizes that government should set rules but not be a market participant.

• CEO sentiment among large companies is muted but better than during Liberation Day or high inflation.
• Hiring plans have been muted for over a year, with AI-related CEOs being the most optimistic.
• Bolten states tariffs overall have not been good for the economy and are a tax on manufacturers.
• Tariffs are acceptable only for protecting national security industries.
• Bolten opposes government taking equity stakes in companies like Intel, preferring government to set ground rules.
• Government should help organize cybersecurity for AI but not be a market participant.