Big business struck a Faustian bargain with U.S. President Donald Trump.

When he said something incendiary or flirted with authoritarianism, high-minded chief executives would issue vague, moralizing statements and try to distance themselves from a pro-business president who coveted their approval.

But when Trump cut taxes, rolled back onerous regulations or used them as props for a photo op, they would applaud his leadership and grin for the cameras.