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Fortune
Fortune
Diane Brady

Elaine Chao: ‘What you all want is certainty and you’re not going to get it’

Elaine Chao Elon Musk Diane Brady Wilbur Ross Commerce
Department Of Transportation Secretary Elaine Chao Testifies Before Senate Commerce Committee (Credit: Bloomberg via Getty Images)
  • In today’s CEO Daily: Diane Brady on how CEOs are dealing with the Trump Administration.
  • The big story: Musk rallies against his critics.
  • The markets: Low drama but no growth.
  • Analyst notes from Wells Fargo on federal government layoffs, Apollo on consumer fragility, and UBS on “stagflation.”
  • Plus: All the news and watercooler chat from Fortune.

Good morning. Get used to tariff chaos—and don’t expect any resolution soon. At Fortune’s CEO Initiative dinner in New York this week, the general consensus among the leaders on stage and filling the room was that this trade war could last well beyond 2025. Here were some other topline takeaways from three speakers in attendance. 

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