Corporate America opts for silence over confrontation with Trump

Top American CEOs are largely remaining silent as the Trump administration intensifies immigration enforcement during its second term, a sharp departure from the corporate activism seen in previous years.

The muted response comes amid rising violence. In Minneapolis, federal agents shot and killed protester Alex Pretti and Renee Good, an unarmed woman. So far in 2026, at least eight people have died at the hands of federal agents or while in the custody of U.S. Immigration and Customs Enforcement (ICE).

In response to the killings, a coalition of 60 CEOs from major Minnesota-based companies, including Target and Best Buy, issued a joint statement calling for a "de-escalation of tensions."

The group faced immediate public backlash for the statement, which failed to name the victims or criticize the actions of law enforcement.

Apple CEO Tim Cook also used the phrase "de-escalation" in an internal memo, telling employees he was "heartbroken" by the situation.

Cook’s comments reportedly angered Apple staff, as they followed his recent attendance at a White House screening of a documentary about Melania Trump.

American boardrooms are undergoing a fundamental recalibration of risk, marking a sharp departure from the era of corporate activism. The primary threat to the bottom line is no longer the threat of a progressive consumer boycott, but the prospect of direct executive retaliation from a second Trump administration.

This represents a total reversal of the corporate climate following the 2020 death of George Floyd. During that period, companies rushed to align themselves with movements like Black Lives Matter, fearing public backlash. Today, the calculation is driven by the fear of being targeted by the White House. The Trump administration has demonstrated its readiness to weaponize economic and legal levers—including punitive tariffs, targeted litigation, or the preferential treatment of competitors—against entities perceived as "woke" or critical of the executive.

In response, CEOs have pivoted to a survival strategy defined by "de-escalation." This approach seeks to acknowledge public grievances without directly challenging an administration prone to reprisal. Recent moves by industry giants—such as Meta’s $25 million payment and Amazon’s $30 million deal for a Melania Trump documentary—highlight this new reality.

Market analysts suggest the U.S. business environment is shifting away from rule-based competition toward a system of patronage and fealty. In this landscape, political alignment with the White House is becoming as critical to corporate longevity as traditional market performance.

Aggressive federal immigration enforcement is creating a climate of fear that hits close to home for the Vietnamese-American community. While the recent incidents in Minnesota may seem localized, they signal a broader national shift that threatens the security of our families and businesses nationwide. From the storefronts of Little Saigon to our local phở restaurants and nail salons, there is a growing sense of being targeted. This instability doesn't just affect those in immediate legal jeopardy; it weighs heavily on families navigating the complexities of F2B, H-1B, or EB-5 visas and complicates the vital flow of remittances back home. For Vietnamese-American entrepreneurs, these hardline policies create a volatile environment that puts our community’s economic backbone at risk.