In a surprise appearance at ABC News’ daily editorial meeting Thursday, Walt Disney Company CEO Bob Iger sounded the alarm on President Donald Trump’s “Liberation Day” tariffs and the impact they may have on not just his company, but the American economy at large.
The executive, according to a report from Oliver Darcy’s Status newsletter, expressed concern that relocating overseas manufacturing to the U.S. “speedily” is impossible, and also indicated that most people “don’t really understand how tariffs work.” Anonymous staffers who were present at the meeting told Darcy that the latter comment appeared to be his push for ABC News to connect the dots for readers and viewers.
Iger’s attendance at the closed-door meeting in New York City came one day after President Trump signed an executive order enshrining a series of tariffs on international trade for over 180 countries and U.S. trade partners. The president touted the occasion as “Liberation Day,” while many economists — and Hollywood leaders — brace for their impact.
Representatives for Disney declined TheWrap’s request for comment.
As discussion of the tariffs and the ABC newsroom’s coverage strategy continued, staffers described Iger as continuously jumping into the conversation to share his thoughts and offer more of what Darcy said were “unfiltered views.” He expressed concern for Disney’s cruise line — particularly two new ships that rely on steel for their construction and how the company may have to scale back spending if costs rise too high.
As far as moving overseas manufacturing to U.S. factories, Iger said that many major companies rely on thousands of specialized workers who would need to be replaced and trained domestically. He cited Apple’s Foxconn plants in China as an example.
Iger’s attendance at the ABC News meeting indicates that he, like many others, is worried by what he sees coming out of the Trump administration and Wednesdsay’s executive orders. Fast-moving impacts continued to be seen throughout Thursday, including on the U.S. stock market, which had its worst sell-off since 2020.
Trump’s tariffs will begin to take effect on Saturday, when the White House plans to impose a 10% tariff on all countries. It then plans to impose higher individualized reciprocal tariffs on the countries with which the U.S. has the largest trade deficits beginning April 9.
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