Developing Story
US Business Backlash Against Plutopopulism
US business leaders are reportedly growing disillusioned with the Trump administration, having expected tax cuts and deregulation but instead encountering damage to free trade and global alliances, per the FT's framing of "plutopopulism."
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US business leaders are reportedly "waking up to the perils of plutopopulism," according to the FT, describing a growing disconnect between corporate expectations for the Trump administration and the reality of its policies (FT, October 16). Companies that wanted tax cuts and deregulation instead got a president who "has blown holes in free trade and global alliances" (FT, October 16).
### Key developments
- A narrative of business community disillusionment is emerging, framed around the term "plutopopulism" — a hybrid of pro-wealth and populist politics (FT, October 16).
- Specific policy grievances cited include damage to free trade and global alliances (FT, October 16).
### Why it matters
This reflects a broader strategic tension for corporate and legal clients: navigating an administration whose policies may diverge sharply from traditional pro-business expectations, with implications for trade policy, regulatory planning, and political risk assessment.