According to CNBC, Donald Trump’s economic policy council disbanded Wednesday afternoon, during a week when Trump is rapidly losing support from business leaders citing controversial remarks the president made about violent clashes between white supremacists and counter-protesters.
The disbanding of the policy forum follows a wave of CEO defections from Trump’s Manufacturing Advisory Council, a panel of corporate leaders focused on boosting U.S. manufacturing jobs.
“The thinking was it was important to do as a group,” a member told CNBC. “As a panel, not as individuals because it would have more significant impact. It makes a central point that it’s not going to go forward. It’s done.”
The Strategic and Policy Forum, led by Blackstone CEO Steve Schwarzman, featured, among others:
JPMorgan Chase’s Jamie Dimon
BlackRock’s Larry Fink
Wal-Mart’s Doug McMillon
IBM’s Ginni Rometty
The business leaders chose to dissolve the council in order to “condemn” the president’s comments about the Charlottesville violence, the same member said. The member described Trump’s defiant press conference on Tuesday as a “tripwire.”
The separate initiative lost seven members since Monday, including Campbell Soup’s and 3M’s CEOs on Wednesday.
Trump previously lost the support of three other business leaders from his Strategy and Policy Forum: Uber’s then-CEO Travis Kalanick quit following Trump’s travel ban, while Tesla’s Elon Musk and Disney’s Bob Iger left when Trump announced the U.S. withdrawal from the Paris climate agreement. Musk was also a member of the manufacturing council.
Trump stoked tensions Tuesday when he blamed the “alt-left” for charging at white supremacist and Neo-Nazi protesters, some of which Trump called “very fine people.”
Donald Trump has tweeted, and in typical Trump fashion, says it is all HIS IDEA:
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