‘Everybody here is so unwilling’: Trump’s tariff threats leave Aspen defense conference walking on eggshells

The annual Aspen Security Forum has been marked by growing worry over President Donald Trump’s upcoming tariff decisions, as defense companies and their representatives gather to discuss national security matters in Colorado.

According to Politico, the conference, which brings together government officials, diplomats, and private sector leaders, has seen participants expressing deep concerns about how Trump’s trade policies might affect their business futures, particularly with the August 1 deadline for new tariffs approaching.

“It’s amazing how everybody here is so unwilling to say anything negative about the Trump administration,” said Jeremy Shapiro, director of research of the European Council on Foreign Relations, highlighting the careful approach taken by attendees at this year’s event.

Defense spending increases bring uncertainty amid tariff concerns

While NATO members have agreed to raise their defense spending to 5 percent of GDP by 2035, many companies that should benefit from this increase are instead worried about how Trump’s tariffs might hurt their operations and profits.

Several attendees spoke on condition of anonymity, fearing potential backlash from the administration. One defense startup representative noted that while the administration wants the American defense industry to grow, they are creating unstable economic conditions that make this difficult.

The uncertain business environment has led some major players to reduce their presence at the conference. Amazon Web Services scaled back its attendance after the Pentagon withdrew its officials from panels, with AWS vice president David Appel canceling his participation in an AI panel.

Defense technology companies like OpenAI, Google, and Anthropic have recently secured Defense Department contracts worth up to $200 million each. However, Trump’s unpredictable trade policies have cast a shadow over the sector’s growth potential, as the economic reality of tariffs being paid by American companies and consumers becomes increasingly clear to business leaders.

Companies are struggling to plan their futures as Trump threatens new tariffs on top of the existing 10 percent baseline set in April. One technology company representative explained that shifting tariff policies create uncertainty for businesses trying to establish operations in the United States.

The conference’s atmosphere reflects a broader anxiety in the defense sector, with many participants expressing concern about sudden policy changes that could affect their businesses. One regular attendee who advises several sponsors noted that this year’s gathering shows a fundamental reshaping of the global economic order happening in real time, as Trump’s tariff policies will impact transportation costs and overall price increases across all sectors.

This fear has led to visible changes at the conference itself, with sponsor logos being displayed more discreetly than in previous years, and some companies choosing to maintain a lower profile to avoid potential conflicts with the administration.