Disney boss Bob Iger made a surprise appearance at ABC News’ daily editorial meting — and reportedly warned weighed in on the the impact President Donald Trump’s tariffs will likely have on the media giant and the economy.
Iger, who often stops by the Disney-owned broadcaster when he’s in New York, expressed concerns that relocating oversees manufacturing to the US “speedily” is no easy task, according to a report from the Status newsletter.
The exec pointed to Apple’s Foxconn plants in China, which employ hundreds of thousands of highly specialized workers, noting that it wouldn’t be possible to simply replicate their skill-level overnight domestically.
Iger also reportedly told staffers at the closed-door meeting that most people “don’t really understand how tariffs work.” Those in attendance took that comment to be an appeal for ABC News to connect the dots for readers and viewers, according to Status.
Iger also reportedly voiced concern for Disney’s lucrative cruise line — particularly two new ships that rely on steel for their construction and how the company may have to scale back spending if costs rise too high.
Disney did not immediately respond for comment.
Iger popped in on the pow-wow a day after President Trump signed an executive order that slapped a series of tariffs on US trade partners.
Iger’s off-the-cuff chat is indicative of how media execs are fearing that the tariffs may potentially result in steeper cuts and layoffs.
Media companies may not directly import goods, but their advertising partners do.
Trump’s sweeping tariffs explained
For instance, automakers, electronic giants and apparel companies will get hit by the tariffs, and will likely pullback their ad spending.
Trump’s tariffs will begin to take effect on Saturday with a 10% tariff on all countries. Higher individualized reciprocal tariffs will kick in on April 9.
Iger’s warnings come after the Disney-owned ABC News settled a defamation lawsuit with the president. In December, Iger signed off on the $16 million settlement after star anchor George Stephanopoulos repeatedly claimed Trump had raped E. Jean Carroll during an interview with Republican lawmaker Nancy Mace.
The Post exclusively reported that Stephanopoulos was warned multiple times not to use the word “rape” by his bosses but he ignored it.
A Manhattan jury had found Trump liable for sexual battery and defamation — but not rape. As part of the settlement, Stephanopoulos apologized and Disney made a $15 million donation to a presidential foundation and museum for Trump, and paid $1 million for Trump’s attorney fees.
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