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Executives across US industry called for a peaceful transfer of power as Donald Trump refused to grant the presidential election to Democrat Joe Biden.
“Now is the time for unity,” said Jamie Dimon, CEO of JPMorgan Chase, the nation’s largest bank by assets. “We must respect the results of the US presidential election and, as we do with all elections, honor the decision of the voters and support a peaceful transition of power.”
Bill Ackman, the billionaire hedge fund manager, advised Trump to admit defeat.
“There comes a time in battle when one must fold the tent,” he wrote on Twitter. Think about your legacy and what is best for the country. Graciously grant and ask for the unity of all who have supported you. “
In the days leading up to the election, business groups had voiced concern that Trump might question the results, urging patience as all votes were counted. They reiterated their calls on Saturday after media outlets declared that Biden had won the election and Trump refused to accept the results.
“Americans have voted in historic numbers and it is important to complete the electoral process by fully counting each vote and resolving any disputes,” said Tom Donohue, executive director of the US Chamber of Commerce.
The Business Roundtable said in a statement: “While we respect the right of the Trump campaign to seek recounts, to request an investigation of alleged voting irregularities when evidence exists, and to exhaust legitimate legal remedies, there is no indication that any of them change the result. “
Jason Oxman, executive director of the ITI technology trade association, said: “The proud American tradition of a peaceful transition of power must continue.” Doing so was “essential to bring certainty and stability to American workers and families and the global business community, and to promote America’s competitiveness around the world,” he said.
The chamber and other business groups also called for greater bipartisan collaboration in Congress, where Democrats are on track to have a smaller majority in the House of Representatives and control of the Senate remains uncertain.
“The American people have spoken and elected a leader who throughout this campaign spoke of healing and bipartisanship,” said Jay Timmons, executive director of the National Manufacturers Association.
“It should be clear from the achievements of the Republican Party in this election that the American people are not interested in the extreme policies of either party; they seek an intelligent, stable and solution-oriented governance ”, he argued.
The election had “put our nation to the test,” said Timmons, noting that Biden will take office in the face of “crises of historic proportions and deep divisions.”
Industry groups and individual companies were quick to submit their legislative wish lists, with the chamber saying its most urgent legislative priority was further relief from the pandemic, followed by investments to modernize US infrastructure.
The NAM called for a “competitive” tax and regulatory system, investment in infrastructure, comprehensive immigration reform, expanded trade, and a “strengthened” workforce. The US Travel Association called for more stimulus for businesses that were “an integral part of a US turnaround.” And Microsoft expressed a desire to see investments in rural broadband and digital skills.
Brad Smith, president of Microsoft, also expressed the hopes shared by many in the business community that a Biden administration will coordinate more closely with other countries on issues ranging from climate change to regulation.
The global challenges the industry faced required “stronger collaboration” between the US and the rest of the world, he said, and would need the US to move from debates about why we can’t succeed to talks about How can we do it “.
