In the opening stretch of President Trump’s second term, America’s leading corporations found themselves recalibrating amid a shifting political order. Gravity Research’s latest report offers a data-driven look at how Fortune 100 companies publicly addressed three of the administration’s most consequential—and contentious—policy priorities: tariffs, DEI, and immigration.
Drawing on 133 public statements—including earnings calls, media interviews, and CEO remarks—issued between January 20 and April 21, 2025, the report illuminates the strategic calculus behind corporate speech in an era of heightened political scrutiny.
Tariffs emerged as the clear flashpoint. Sixty-five Fortune 100 companies weighed in on tariff policy, responding to its direct operational fallout—from supply chain disruptions to cost volatility and investor concern. Engagements spiked during earnings season and were frequently led by CEOs, underscoring the issue’s material impact on business performance and shareholder expectations.
On DEI, the corporate tone was more measured. Roughly 23% of statements referenced DEI, often framing it through the lens of “values” while signaling an awareness of shifting legal risk. Some firms reaffirmed inclusion commitments; others hinted at policy revisions as federal scrutiny and activist pressure intensified.
Immigration, by contrast, drew little public comment. Just two companies issued statements, which marks a notable departure from the widespread corporate advocacy seen during Trump’s first term and a likely reflection of the current policy’s limited business reach.
As the administration’s next 100 days unfold, corporate America faces mounting challenges: a volatile trade agenda, escalating regulatory attention to DEI, and the reputational minefields of Pride Month.
Download the report to learn how–and when–companies are choosing to speak in today’s politically charged environment.
