How Donald Trump Is Making Big Promises to Big Business

On a Friday in late September, Donald J. Trump took time off the campaign trail for a closed-door meeting at Mar-a-Lago with officials representing the vaping industry.

The vaping emissaries talked about loosening regulations and told the former president he had “saved” the industry in the past. The group — including Mr. Trump’s 2016 campaign manager, Kellyanne Conway, and another 2016 campaign aide, Michael Rubino — showed him mock-ups of mailers they were sending out through Election Day. Mr. Trump asked for input on what he could say on social media about a complicated regulatory issue.

Within hours, Mr. Trump had posted about his allegiances to the embattled e-cigarette sector. “I saved Flavored Vaping in 2019,” Mr. Trump wrote on social media. “I’ll save Vaping again!”

The head of the Vapor Technology Association, Tony Abboud, who was also in the meeting, quickly declared he was “pleased” that Mr. Trump was “continuing to fight for vapers.” The vaping industry has not been a significant contributor in the presidential race, but the Vapor Technology Association has been quietly sending versions of those mailers to voters in battleground states warning that Democrats want “to steal vapes from freedom-loving Americans.”

As Mr. Trump seeks a return to the White House, he has come a long way from his 2016 campaign pitch that he was so rich he was incorruptible. Back then, he mocked the G.O.P.’s donor-lobbyist class and boasted in his announcement speech, “I don’t need anybody’s money.” Today, Mr. Trump is looking everywhere for cash: asking small donors online, pressing fellow billionaires over private meals in Trump Tower and lobbying for donations from industries regulated by the government.

As he does so, he is sometimes making overt promises about what he will do once he’s in office, a level of explicitness toward individual industries and a handful of billionaires that has rarely been seen in modern presidential politics.