×

Manufacturing CEOs go to President Trump for help in their fights against China

On his first full day in the Oval Office, President Trump gave face time to a group of major CEOs, and several had something in common: problems with China.

The meeting Monday came after an early morning tweet from the President announcing it. Without any details, most of the press was left guessing as to the attendees. Before the meeting, a stream of 12 CEOs from manufacturing companies walked into the White House.

Here's the final White House list of the CEOs that met Trump:

"The scale of the challenge is pretty large," says Scott Paul, president of the Alliance for American Manufacturing, highlighting the technological and trade-related impediments to boosting manufacturing jobs in America.

Five of the 12 CEOs lead companies that are facing serious headwinds from China: U.S. Steel, Arconic (formerly Alcoa), Whirlpool, Corning and Under Armour.

"It's a great new dawn," Ed Rogers, chairman of the BGR group, a lobbying firm, told CNBC's "Squawk on the Street."

U.S. Steel: The company has been hit by a China-driven steel glut, and last April it accused Chinese government hackers of stealing proprietary technology.

1 year U.S. Steel (X) stock performance


Arconic (formerly Alcoa): The company has reeled under cheap Chinese aluminum supply for more than a decade. Chinese production and a strong dollar cut aluminum prices by 10 percent in 2015, the same year China produced 55 percent of the world's total supply. In fact, China's cheap exports drove CEO Kleinfeld's decision to split the company into two. The Obama administration lodged a WTO complaint into China's subsidies for its aluminum industry.

1 year Alcoa (AA) stock performance

Whirlpool: The largest seller of household appliances has accused rivals some rivalsof making washing machines cheaply in China and selling them in the U.S. In response, the Commerce Department imposed anti-dumping tariffs on large residential washing machines sold by LG and Samsung but manufactured in China.

1 year Whirlpool (WHR) stock performance

Corning: The maker of specialized LCD-glass screens reeled after China imposing anti-dumping tariffs on the company in the past.

1 year Corning (GLW) stock performance

President Donald Trump delivers opening remarks during a meeting with (L-R) Wendell Weeks of Corning, Alex Gorsky of Johnson & Johnson, Michael Dell of Dell Technologies, Mario Longhi of US Steel, and other business leaders and administration staff in the Roosevelt Room at the White House, Jan. 23, 2017 in Washington, DC.
Getty Images
President Donald Trump delivers opening remarks during a meeting with (L-R) Wendell Weeks of Corning, Alex Gorsky of Johnson & Johnson, Michael Dell of Dell Technologies, Mario Longhi of US Steel, and other business leaders and administration staff in the Roosevelt Room at the White House, Jan. 23, 2017 in Washington, DC.

Under Armour: Tech website Mashable was the first to report on a Chinese rip-off of Under Armour: "Uncle Martian." A Chinese disrespect for copyright laws is a major frustration facing American companies.

Dow Chemicals: Despite a large presence in China, Dow's future holds intense competition from China National Chemical (ChemChina), a Chinese-owned chemical company, merging with Syngenta AG.