On Thursday, Trump said he had reached a deal with Brad Karp, the chair of Paul Weiss, to drop the executive order he issued against the firm. The order would have restricted the firm’s security clearance — something that is often needed to review government contracts for corporate clients — and barred its lawyers from federal buildings.

The 150-year-old firm has employed many Democrats, including Manhattan’s former U.S. attorney. Its revenue was more than $2.6 billion last year.

The capitulation by one of the top U.S. firms reflects deep worries that being threatened by the president could lead to financial ruin.