Deutsche Bank, JP Morgan, new York City … None of these companies or public authorities want to look away any more. After a round of resignations from his own political camp, his ban from the main communication platforms and despite a few last very loyal supporters, Donald Trump faces, a week before his departure from the White House, a cascade of dissociations.
Since the violence on the Capitol on January 6, not a day has gone by without the publication of a press release or the official speech of a multinational to condemn the behavior of the American president and begin to take a distance. This week, Donald Trump, subject to a second impeachment procedure, has never been so lonely.
“Companies are attacking Trump because being associated with the image of a factionist is not very pretty,” comments Jean-Eric Branaa, doctor in American civilization. In other jargon, Trump stinks, and the shame that falls on him will ricochet off those close to him. “
With Trump, business was going … until January 6
“This time the companies say these events are too serious, we can no longer hide our face, analysis Célia Belin, doctor in political science specializing in international relations. The intrusion into the Capitol left five victims, fifteen wounded police officers, wounded civilians… all in front of cameras around the world. For all, this is too much. “
After four years of Trump’s presidency, these chain condemnations are calling out because until then, companies were a bit silent. “They have come to terms with his divisive, nationalist, vulgar personality,” remarks Célia Belin.
One reason for this: with Trump, business was going well. “He put a lot of money into the system, nobody liked it. For example, he has undermined a lot of environmental regulations, and large companies have done very well during his tenure. The stock markets and Wall Street were at their highest until the Covid crisis. “
“Better late than never,” insists Célia Belin. According to her, no position would have emerged anyway without the events of the Capitol.
“On January 6, a line was crossed that can no longer be ignored. All of Trump’s previous excesses could still be rationalized, forgiven… If they had been able to do so, the companies would have tried to pass the towel again this time, but Trump’s speech no longer allowed it. “
From now on, in public opinion, to position oneself for Trump is to deny American democracy. “This harms the brand image of companies, themselves made up of people deeply shocked by the events of January 6,” continues Célia Belin.
Those who remain
It is difficult today to find companies that have not yet spoken to condemn Donald Trump’s behavior. In the city as in the White House, the support of the outgoing president is becoming increasingly rare. “Almost everyone takes a position, almost all institutions can no longer afford to remain neutral in the face of what has happened”, observes Célia Belin.
Those who remain present an increasingly reduced typical profile. “These are companies that have roots in Trumpist America,” the political scientist points out. I would be surprised to learn that there are many global, international companies among them. “
The intransigent banks
While Donald Trump leaves on January 20 for his residence in Mar-a-Lago, Florida, his ex-president life may be less sweet than he hoped for. Two of its main creditors, Deutsche Bank and Signature Bank, have also decided to cut ties with the billionaire.
“Trump is in debt to the tune of $ 400 million personally and if he cannot repay his loans, he will be in difficulty,” predicts Célia Belin. And this will not be without consequences for the Trump Organization, the empire of the outgoing president. “It is toxic, it will run off, believes the political scientist. This week, his own daughter, Ivanka Trump, worried about the consequences of these blockages on her own career. “
Repercussions on Trump supporters
Concrete economic repercussions are also to be expected for members of Congress who still support the Republican. In the United States, where the world of finance is in the habit of granting assistance to Republican and Democrat representatives, the tone changes. This time, the big names in finance are cutting their financial contribution to representatives who refused to certify the presidency of Joe Biden after the intrusion on Capitol Hill.
Disconnections have spread to the world of sport, and in particular to golf, Donald Trump’s favorite discipline. The National Golf Federation announced on Monday that it was breaking the contract that provided for the 2022 tournament to take place at Bedminster, Trump’s home ground. A decision that was long overdue to believe some editorial writers, but the announcement of which confirms, finally, that to remain at the side of the Republican president has become mission impossible.