How Biden is winning over corporate America behind closed doors

President Joe Bidenhas had it out forcorporate America for much of his term.

Over the past three years, he has worked to dethrone the interests of big businesses and billionaires, instead rooting his economic agenda in union support, aggressive antitrust regulation, a crackdown on so-called "junk fees," promoting a tax on the wealthy, and blaming corporate greed for consumers' inflation-squeezed wallets.

"As major corporations, many seeing record profits, overcharge the American people – in some cases keeping prices elevated despite inflation falling — President Biden is taking unprecedented action to deliver relief for middle class families," White House spokesperson Andrew Bates wrote in a memo on Monday.

The letter called out Big Pharma, grocery chains, credit card companies, airlines and student debt creditors for "price gouging," one of the administration's go-to lines of corporate attack.

This kind of rhetoric has left some in the corporate community with a sour taste.

"I think there are instances now where the rhetoric against industries and companies is going too far," Neil Bradley, the chief policy officer at the U.S. Chamber of Commerce, told CNBC in an interview earlier in May. "It's not a good look."

In response, the business community has repeatedly sued the Biden administration for its regulatory action.

The Chamber of Commerce filed a lawsuit in April against the Federal Trade Commission for its ban on workplace noncompete agreements. In a separate legal challenge, the banking industry won a victory after a judge ruled to pause the implementation of the White House's new limits on credit card late fees.

"Rich special interests are pushing back to protect their abuses and junk fees," Bates added in the Monday memo,