US business leaders rally behind Biden

Business executives, trade bodies and industry leaders see a peaceful transfer of power as critical to the country's economic recovery as the pandemic continues to spread

US President-elect Joe Biden delivers his victory address after being declared the winner in the 2020 presidential election in Wilmington, Delaware. EPA

Businesses executives, industry representatives and trade bodies have rallied behind Joe Biden and called for a peaceful transfer of power after he won the 2020 presidential elections and the refusal of President Donald Trump to concede defeat.

Mr Biden is on course to become the 46th president of the US, securing enough electoral votes after he won the state of Pennsylvania on Saturday to end Mr Trump’s hope of securing another term in the White House. Mr Trump, the first president to fail to win re-election in nearly three decades, when George H W Bush lost to Bill Clinton in 1992, said he will pursue legal options to challenge the outcome.

In the run up to elections, US businesses were supportive of Mr Biden, with 77 per cent of participants in a survey of chief executives conducted by the Yale School of Management in late September, saying they would back him. More than 60 per cent predicted he would win.

In the wake of Mr Biden's victory, this is what top business and industry leaders are saying:

Jamie Dimon, chief executive of JPMorgan Chase, the largest bank in the US:

“Now is a time for unity. We must respect the results of the US presidential election and, as we have with every election, honour the decision of the voters and support a peaceful transition of power.

We are a stronger country when we treat each other with dignity, share a commitment to a common purpose and are united to address our greater challenges. No matter our political views, let’s come together to strengthen our exceptional country

Bill Ackman, billionaire hedge fund manager:

There comes a time in the battle when one should fold the tent. Instead, focus on your accomplishments over the last four years. Think about your legacy and what is best for the country. Concede graciously and call for unity from all who have supported you.

Sheryl Sandberg, chief operating officer, Facebook:

There are times when America takes a big step toward creating a government that reflects the diverse country we are. Today is one of those days. I am thinking with joy about young people across the country watching the news today and thinking, “Maybe I can lead this nation too”.

Congratulations to Kamala Harris on this remarkable achievement – shattering glass ceilings and norms around what leadership looks like.

Billionaire philanthropist and Microsoft Corp co-founder Bill Gates: 

I look forward to working with the new administration and leaders on both sides in Congress on getting the surging pandemic under control, engaging partners around the world on issues like poverty and climate change, and addressing issues of inequality and opportunity at home.

Michael Bloomberg, owner of Bloomberg, former New York City Mayor and presidential candidate:

The ballots have been counted and the American people have elected a leader in Joe Biden who ran promising to bring our country back together. He and Kamala Harris will have my full support as they work to do that.

Rob Nichols, president and chief executive, American Bankers Association (ABA):

We look forward to working with the new administration and the new Congress to address the nation's challenges. During the economic downturn caused by Covid-19, America's banks … have taken unprecedented steps to assist both their consumer and business customers, but we know more must be done to fuel the recovery.

ABA and our member banks stand ready to work with the Biden administration and lawmakers from both parties to bolster the economy.

Thomas J. Donohue, chief executive, the US Chamber of Commerce:

The US Chamber stands ready to work with the Biden administration and leaders on both sides of the aisle to restore public health, revitalise our economy and help rebuild American lives and communities.

While there may be differences of opinion on how to best move forward, our nation must rally around the common cause of recovery. On this, there can be no division. We stand ready to help break through the gridlock and help get things done through collaboration and good governance.

Job number one must be pandemic relief.  American small businesses cannot afford for Congress to wait another three months to act.

Jay Timmons president and chief executive National Association of Manufacturers:

Throughout this difficult year, manufacturers have consistently risen to the occasion to help keep our fellow Americans safe, healthy and fed. We pledge to continue our leadership, especially as we race toward a vaccine, and we will work with a Biden–Harris administration, along with the new Congress, to achieve economic recovery and American renewal. Manufacturers are committed to being part of the solution.

The American Federation of Labour and Congress of Industrial Organizations (AFL–CIO):

Democracy is prevailing. Joe Biden and Kamala Harris’ victory in this free and fair election is a win for America’s labour movement. Everywhere in every way, working people are heroically and resiliently fighting back against this pandemic, its economic fallout, chronic income inequality and systemic racism.

Now the AFL-CIO stands ready to help the president-elect and vice president-elect deliver a long overdue workers' first agenda.

Jason Oxman, president and chief executive, Information Technology Industry Council:

We understand revitalising and growing the US economy will be a top focus as the world continues to grapple with Covid-19 and the economic fallout from the pandemic. Our industry can be a partner on this all-important effort, as well as on policies that maintain America's global leadership and foster greater opportunity for American families across all communities.

From closing the digital divide to investing in research and development to a renewed collaboration with allies to achieve US trade, economic, and national security objectives, our industry is committed to working constructively with the Biden-Harris Administration to ensure that the United States adopts policies that support the well-being of all Americans.