Former President Donald Trump is back on the campaign trail, and this time, he’s making waves not just with his speeches but with some pretty explicit promises to various big business sectors.
From cryptocurrency to big oil, tobacco, and vaping, Trump is courting industries like never before. Observers note this level of openness about courting specific sectors has been rare, almost unprecedented, among presidential candidates. It seems, perhaps, he’s learned from the past—his earlier days of claiming he didn’t need the support of the political donor class are long gone.
Take, for example, the closed-door meeting Trump held at his Mar-a-Lago estate with vaping industry representatives. These officials rallied around Trump, claiming he had ‘saved’ their industry previously. During the discussions, they sought to lift certain government regulations. Reacting to these chats, Trump quickly took to social media, shouting, “I saved Flavored Vaping in 2019! I’ll save Vaping again!” Vaping industry leaders, pleased with these signals, have not been shy about promising their support come Election Day.
Over the years, Trump’s opinions on various sectors have shifted dramatically. A notable example is his once-critical stance on cryptocurrencies. Five months post-presidency, Trump publicly decried cryptocurrencies, labeling them akin to scams. Fast-forward to now, he’s making bold promises to the crypto industry, vowing to establish the U.S. as the leading crypto hub. He stated he would fire the current Securities Exchange Commission chair—the figure many crypto executives view as their primary hurdle. The industry is duly showing its appreciation, flooding his campaign with millions of dollars.
This cash influx isn’t limited to just cryptocurrencies; Trump has also had considerable support from the oil and gas industry, aligning with his pro-deregulation stance. It’s almost like he’s transitioned from being dismissive of money from special interests to actively soliciting it.
Yet, as he attempts this fundraising renaissance, the competition is heating up, especially with Vice President Kamala Harris, who has outpaced Trump’s summer fundraising efforts. Now more than ever, making big promises is about garnering necessary funds to fuel his campaign
Trump’s shift to appealing to these industries has attracted criticism from watchdog groups. Dennis Kelleher from Better Markets remarked, "Former President Trump has a ‘For Sale’ sign around his neck and appears to be willing to sell basically any policy in exchange for campaign contributions.” This transactional nature of his campaign has drawn sharp contrasts to his earlier messaging, exemplified by his mantra to “drain the swamp”—a phrase he initially used dismissively but has now seems to have undergone serious evolution.
One poignant moment was Trump's insider relationship with lobbyists and political donors from sectors he persuaded to back him. He touted it as part of his normal operating procedure, leaning directly on the personal connections he established during his presidency.
Trump has also made significant commitments to the big tobacco sector. Reports indicate Reynolds American, one of the largest tobacco manufacturers, is the major contributor to Trump’s super PAC. This kind of financial backing is particularly timely, as the tobacco industry faces proposed bans on menthol cigarettes. It remains to be seen whether Trump will adopt any clear position on such regulations, but his connections here are evident.
The cannabis sector is another area where Trump’s position seems to flip with the political tides. Previously, he traditionally voiced strong opposition to legalization. Fast-forward to now, with legalization measures appearing on ballots, especially significant measures like the one coming from Florida. Trump has begun to signal openness as he engages with lobbyists who are anxious to sway him toward supporting these legislative fronts.
Meanwhile, even among the big names tied to his funding, there’s notable enthusiasm; crypto leaders and major players have been more than willing to throw cash and support behind him, underscoring the complex intertwining of politics and business within Trump’s 2024 strategy.
Throughout his current campaign, Trump appears determined to build up his influence with industries worried about increased regulations under the current administration. It raises the question—what does this new transactional approach mean for the political climate and how much of it is merely campaign posturing versus genuine commitment?
Trump’s campaign, underscored by this intertwining of business and politics, paints a vivid picture of how modern-day campaigning can be influenced by financial forces and favors. The line between campaigning and confluences of interests has never seemed thinner.
Looking back, it’s almost ironic how far Trump has come—from blasting lobbyists to becoming one of their leading candidates, all thewhile leveraging business interests to maximize his support. It’s uncertain whether such overt promises will pay off as voters begin to dissect the motives behind such ambitious claims, particularly among those industries fueling his campaign.
But for now, as he digs deep within these sectors, from crypto to vaping to tobacco, it’s clear Donald Trump is intent on reshaping his campaign vision—and potentially, the fabric of modern political campaigning itself.
