Cristiano Amon, President and CEO of Qualcomm, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 13, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Cristiano Amon, President and CEO of Qualcomm, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 13, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Cristiano Amon, President and CEO of Qualcomm, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 13, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

WASHINGTON, DC - APRIL 13: Chris Bohn (President and Chief Executive Officer - CF Industries) speaks on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 13: (L-R) Tim Spence (Chairman, CEO and President - Fifth Third Bancorp), Chris Bohn (President and Chief Executive Officer - CF Industries) and Liz Hoffman (Business & Finance Editor - Semafor) speak on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 13: Chris Bohn (President and Chief Executive Officer - CF Industries) speaks on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 13: (L-R) Tim Spence (Chairman, CEO and President - Fifth Third Bancorp), Chris Bohn (President and Chief Executive Officer - CF Industries) and Liz Hoffman (Business & Finance Editor - Semafor) speak on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 13: (L-R) Tim Spence (Chairman, CEO and President - Fifth Third Bancorp), Chris Bohn (President and Chief Executive Officer - CF Industries) and Liz Hoffman (Business & Finance Editor - Semafor) speak on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)