The economic uncertainty and rising costs that have hung over the trucking industry specifically and the overall U.S. economy in general is continuing in the New Year, the nation’s top business lobbyist predicts.
Suzanne Clark, head of the U.S. Chamber of Commerce, said in her annual “State of American Business” outlook that the nation “is begging” for a path to a better future.
“It feels expensive,” Clark said. “We are desperate for a bipartisan future.”
While optimistic in general, Clark said most Americans are weary of inflation, as well as job security due to advances in AI and other threats. She mentioned a similar feeling in the Jimmy Carter days of “malaise” in 1976. She said 40 years of high taxes, inflation, and endless wars had taken its toll.
“America is very good at getting better,” Clark said. But U.S. Gross Domestic Product has grown three times since then, as well as advances in areas such as gene editing, smart phones and computers in nearly every home have increased most Americans’ standards of living since 1976.
“We want to fix what’s broken and keep everything else,” Clark said.
She said economic growth “will not solve all our problems. But we cannot solve any of them without growth.”
Clark said over-regulation and socialist-type societies threaten to hinder U.S. growth. “Free enterprise is not perfect. But it’s the best system we have,” Clark noted.
“The state of American business must be fearless,” Clark said. “It is going to take courage and audacity to lead our nation. Government and business are going to have to work together. We have to be fearless. We have to be fearless because it’s our legacy—and it’s our future.”
In a roundtable discussion following her speech, experts dissected aspects of the economy affecting supply chains and other factors of the economy.
Jamie Dimon, chairman and CEO of JP Morgan Chase, which has been a Chamber member for 114 years, said moving supply chains closer to this country is vital for U.S. growth and security.
“If you want to keep this country safe, we need to do this now. If you didn’t get the wakeup call when 300,000 Russians invaded Ukraine, then you understand it now,” Dimon said. “Nothing is too small to care about.”
Dimon also quipped there are too many regulations affecting productivity. “It should be called blue tape, not red tape. Democrats need to cut regulations. There is too much regulatory crap.”
“Good policy is free,” Dimon said.
Christopher Nassetta, president and CEO of Hilton Worldwide, which manages and franchises 9,000 properties worldwide with over 500,000 employees, said, he is “pretty optimistic” about the economy in 2026.
“Inflation is continuing to come down, we are in one of the biggest deregulatory environments of all time, and productivity improvements, due to AI, will all be positive,” Nassetta said.
Ross Perot Jr., founder and chairman of Hillwood and U.S. Chamber chairman, said “if you run a business, you understand the future will be better.”
