US CEOs face a high-stakes dilemma as they navigate the second Trump era

U.S. chief executives are navigating an increasingly volatile landscape as President Donald Trump’s second term combines traditional conservative deregulation with aggressive populist intervention in private business.

According to a Bloomberg report, the president issued a series of demands and directives targeting corporate leaders over the past week.

The moves are intended to bolster Trump’s political standing as the midterm elections approach.

The policy landscape under a Trump administration presents a dichotomous environment for global commerce, characterized by a volatile mix of regulatory relief and populist interventionism. While aggressive deregulation aims to lower operational costs for the private sector, these gains are often offset by politically motivated maneuvers designed for domestic consumption. Large corporations frequently find themselves in the crosshairs of this unpredictability, facing everything from supply chain mandates to public rebukes via social media.

This instability creates significant headwinds for major trading partners, most notably Vietnam. Vietnamese manufacturers and exporters, who operate on the assumption of a rules-based trade order, are particularly exposed to sudden shifts in U.S. policy. The threat of snap tariffs or aggressive reshoring initiatives—designed to force U.S. production back stateside—threatens to fracture established global supply chains.

For strategists in Hanoi, the current climate necessitates a fundamental shift in economic planning. To mitigate the risks of sudden protectionist pivots, Vietnamese policymakers and business leaders must prioritize institutional agility and diversify their long-term investment strategies to withstand a more fractured and protectionist global trade environment.

While the conversation often centers on major corporations, economic instability fueled by unpredictable policies creates a ripple effect that hits the small businesses at the heart of the Vietnamese-American community. Market volatility and cooling consumer confidence often lead to reduced spending on discretionary services, directly impacting the livelihood of those running nail salons, phở restaurants, and the retail shops that anchor Little Saigons across the country. Beyond the storefronts, shifts in the political climate can create uncertainty around crucial visa categories—such as F2B family sponsorships, H-1B professional tracks, or EB-5 investments—while economic downturns may strain the vital flow of remittances back home.