Glenn Youngkin on D.E.I., Trump’s Tariffs and a Possible 2028 Run

Five years ago, Glenn Youngkin was a co-chief executive at a major private equity firm, where he repeatedly made the case that diversity and inclusion were good for business.

Now, he is the Republican governor of Virginia, a term-limited conservative who criticizes diversity, equity and inclusion programs and is seen as a potential future candidate for president.

On Sunday, he spoke by phone about his thinking on diversity, President Trump’s tariffs and whether he might be interested in running for president in 2028.

Here are excerpts from the interview, edited and condensed.

When you began as co-chief executive at Carlyle, you were asked by Bloomberg Markets about whether there was a need for more racial and gender diversity. And you said addressing that challenge would be one of your key priorities. Do you still believe that racial and gender diversity are important?

When you are building a world-class talent pool, you have to make sure that you are looking everywhere for it. And in order to do that, you will embrace a diverse work force that is inclusive.

You sought out a diverse work force.

Of course, because you have to create pathways for the best talent to find its way into your work force. The heart of it is a pursuit of the best talent — recognizing that diversity of thought, diversity of experiences, contribute to that best talent — and therefore creating a work force that celebrates the fact that we live in the most diverse nation in the world, and that talent resides everywhere.

It has been the radicalization of those concepts of diversity, equity and inclusion that have so fundamentally changed what was, I believe, five or 10 years ago, the merit of celebrating a diverse work force.

Can you point to the moment that, in your eyes, things went too far?

When we saw what was happening in our schools during the pandemic, where parents were being excluded from their children’s lives on some of the most important decisions, particularly with regards to gender discussion, that’s just fundamentally wrong.

When we saw teaching practices that were demeaning and demoralizing one group of students at the expense of another, that’s fundamentally wrong.Things changed — materially, fundamentally changed — from an era where we were embracing the benefits of a diverse work force and this pursuit of best talent, to a world where all of a sudden, the mantra became equal outcomes at all costs.

I have spoken with a number of people who worked with you at Carlyle, who say that the Governor Youngkin of today is unrecognizable. Some wonder if you shifted right in an effort to get ahead in the modern Republican Party.

I have always believed that human beings are created in the image of God, and that we should respect them. I have always believed that we are a society built on the equal opportunity that should be available to everyone and there should be no discrimination. And I’ve always believed that excellence and a meritocracy are at the heart of our nation, not the ‘guarantee equal outcomes at all costs.’

I so firmly reject the premise that D.E.I., the radicalized D.E.I. of today, represents anything that was the basics of embracing the merits of diversity of thought, diversity of experience and diverse work force.

Do you agree with the many investors around the world who think the Trump administration’s tariff policy is the wrong approach?

No one should be surprised that President Trump has aggressively embraced tariffs.

The idea that we should have reciprocal tariffs with our trading partners is one that has to be part of the rebalancing of trading relationships.

From Virginia’s standpoint, we continue to see an extraordinary pipeline of companies that understand that if they want to engage in business in America and hopefully in Virginia, on a tariff-free basis, they need to domicile here.

So you think President Trump is taking the right approach on tariffs?

If anybody was surprised, they weren’t paying attention.

I didn’t ask if you were surprised, I asked if you think it’s right.

There is a necessary rebalancing of our trade negotiations or trade relationships that needs to happen.

You are term-limited. I wonder if you’re considering a run for president in 2028.

Oh my gosh, Katie, you couldn’t help yourself, could you?

What’s the answer?

I have nine months to serve Virginians, and I am going to stay focused on Virginia. We have had a wonderful demonstration that common sense works.

I have said many times that I do believe that folks that worry about their next job before they’ve finished their current one have their priorities misplaced. My job is to continue to serve Virginians the best I can all the way up and through the last day I’m in office, and I’m committed to do that.