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Bob Iger Warns of Trump Tariff Impact
In an unexpected appearance at ABC News’ daily editorial meeting, Disney CEO Bob Iger reportedly discussed the potential negative impact of President Trump’s tariffs on both the media conglomerate and the broader economy.
According to the Status newsletter, Bob Iger, who often visits Disney’s ABC News in New York, expressed his worries about the feasibility of swiftly moving overseas manufacturing to the US.
To illustrate his point, the executive referenced Apple’s extensive Foxconn operations in China, which employ hundreds of thousands of highly skilled workers, noting that duplicating such specialized capabilities within the United States would be a significant undertaking requiring considerable time.
During the closed-door meeting, Disney’s Bob Iger reportedly commented that most people “don’t really understand how tariffs work,” a statement Status suggests attendees took as an encouragement for ABC News to clarify the complexities for their readers and viewers.
Iger also reportedly raised concerns about Disney’s highly successful cruise line, particularly the construction of two new vessels requiring substantial amounts of steel, and the possibility of having to cut back on spending if material costs rise excessively.
Iger’s impromptu remarks at the ABC News meeting suggest a broader concern among media executives that tariffs could lead to significant cost-cutting measures, including potential layoffs. While media companies may not directly import goods, their advertising partners do, and the economic repercussions of tariffs could negatively impact these partnerships.
What are your thoughts on the new tariffs?
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