US Chamber of Commerce President & CEO Suzanne Clark Talks Economy Growth

SPEAKER_1 (0:02)

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Kailey Leinz (0:07)

It's 18 days from election day, and the battle over costs is growing into a broader debate over how to grow the economy. The US Chamber of Commerce is taking its answer on the road. Its free Enterprise Express bus tour is traveling through 20 states, promoting pro-business candidates in both parties in the wake of populist economic ideas gaining ground across the country as businesses face major headwinds from inflation, tariffs and the rapid rise of AI.

Joining us now for more is Suzanne Clark, President and CEO of the US Chamber of Commerce, and she's live from that bus tour currently in Dallas. Suzanne, I believe you're joining us from a bar and restaurant, Barley House Restaurant and Tap Room is where we find you. As you crisscross the country in these different areas talking to these different businesses, what is the primary concern you're hearing?

Suzanne Clark (0:58)

Oh, well, thank you so much. And yes, I am here at Barley, a small business in Dallas, Texas. We're here talking to some SMU students, because part of this bus tour is really about listening, listening to the next generation, listening to business leaders, as you just said. And what we're really trying to figure out is, what do they need in order to grow the economy? What types of candidates, what types of policies? What we know is that business can solve a lot of problems for society if given the chance.

Kailey Leinz (1:24)

Well, so is it that they're hearing they need, are you hearing that they need new policies or that they need some existing policies perhaps to be walked back? I'm thinking things that might raise costs for businesses like tariffs, for example, or hot wars in the Middle East and elsewhere that are raising energy prices. Is it more that they need some things to end than they need new things to begin?

Suzanne Clark (1:49)

That's a great question. I mean, we had lunch today with a whole bunch of business leaders right here in Dallas. And what they talk a lot about is needing certainty. They want to invest in the United States. They want to onshore. They need certainty. That means permitting reform. They need permits to be easier and faster to get, more permanent once they get them. They are happy to see a secure border. They'd like to see immigration reform, have more legal immigration into this country. So yes, the cost of inputs going down, a reduction in tariffs, more actual trade agreements that open up markets. That makes supply chains more consistent. So cost of inputs going down is an important piece, but so is things like permitting reform.

Kailey Leinz (2:30)

Well, we know permitting reform was a live effort in the Senate before they recessed for the pre-midterm break and it could very well be picked up in the lame duck session. Suzanne, but how much of this do you see is being driven by candidates that are going to be elected in this midterm cycle? Is it really about the legislative branch and what it can do or is a lot of this being driven by the president in the White House?

Suzanne Clark (2:54)

You know, maybe I think it's being driven a little bit by something else, which is what this bus tour is about, which is the public narrative. How do we address the concerns that people in the public have about the cost of housing or about the cost of healthcare by explaining and talking about the opportunities for business to solve those problems? I think when we look at people as this big Gallup poll has showed a rising positive popularity for socialism, we want to remind people that that's never worked in any country that's ever tried it. Free enterprise is what lifts people out of poverty. It's what solves problems at scale. And so we want these politicians who are running for office, any kind of office, local, state or national, to have the backing of a public that's pro-business. And that's why we took this bus on the road.

Kailey Leinz (3:39)

Well, and as you raise the issue of socialism, that's obviously front and center in this midterm cycle, is you have a number of candidates aligned with the DSA who have won in primaries and are going to be on the ballot. But do you see some of the things that have come out of this administration, including taking stakes in public companies, or saying that you're going to send out a $5,000 check if Republicans win in the midterms? Is the president also subscribing to some of those socialist-leaning tendencies, and is that a problem?