Political Realignment: 88 Big-Business Leaders Back Kamala Harris

 Eighty-eight big-business leaders signed a letter on Friday endorsing Vice President Kamala Harris for president, highlighting the ongoing political realignment that has been unfolding since 2016.

Before Donald Trump’s presidency, the Republican Party was often seen as the party of big business and corporate interests. Now, the Democratic Party is increasingly embracing this role, championing globalism and “democracy” in a way that echoes political shifts dating back to Franklin D. Roosevelt and earlier.

“We endorse Kamala Harris’s election as President of the United States,” the business leaders stated in their letter:

“Her election is the best way to support the continued strength, security, and reliability of our democracy and economy. With Kamala Harris in the White House, the business community can be confident in a President who seeks the prosperity of American industries. As a partner to President Biden, Vice President Harris has a proven track record of driving business investments and ensuring that U.S. companies can compete globally. She will promote fair, predictable policies that uphold the rule of law, and foster a stable business environment, while striving to provide every American with the opportunity to pursue the American dream.”

Notable signatories include:

James Murdoch, former CEO of 21st Century Fox

Philanthropist Lynn Forester de Rothschild

Ted Leonsis, owner of the NBA’s Washington Wizards

Jeffrey Katzenberg, founder of Wndr and former chairman of Walt Disney Studios

Philanthropist Laurene Powell Jobs

Facebook co-founder Dustin Moskovitz

NBA Hall of Famer Magic Johnson

Entrepreneur Mark Cuban

Former LinkedIn CEO Reid Hoffman

One key issue dividing corporate America is tariffs. While Donald Trump strongly supports tariffs to protect American workers—an approach popular in Rust Belt states where jobs have been outsourced—Kamala Harris’s policies align more with free trade principles. For example, Trump criticized the Biden-Harris administration's electric vehicle mandate, claiming it has hurt Michigan's auto industry.

A recent J.L. Partners/Daily Mail poll found that a majority of voters support a 10% tariff on all imports, a sign that tariffs remain a contentious issue in the economic debate.

Historically, tariffs have played a central role in U.S. policy. According to Douglas A. Irwin’s “Trade Policy in American Economic History,” average tariffs peaked at 60% before the Civil War and hovered around 50% from 1861 to 1933. Since then, tariffs have dropped to about 5%, as free trade has become a dominant ideology.

Donald Trump’s 2016 “America First” campaign revived the debate over tariffs, framing them as essential to protecting U.S. industries. Critics argue, however, that the idea of free trade primarily benefits global elites at the expense of American workers.

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