The escalating trade war initiated by the US, particularly under President Trump's administration, has placed several major tech companies, including Meta, Apple, Tesla, and TikTok, in a precarious position. As discussions of imposing tariffs and levies on digital service advertising revenues surface, the initial predictions that tech leaders would benefit from Trump's policies seem to have backfired. With significant stock losses and regulatory pressures from the EU, companies find themselves entangled in complex political dynamics that threaten their business.
For a while, it looked like President Donald Trump was going to have Big Tech's back. Now, the tech industry is collateral damage in his global trade war.
The US has put Meta, Apple, Tesla, TikTok, and others in a tough spot with the escalating trade tensions, transforming them into players in a larger geopolitical game.
Tesla's stock price, meanwhile, has lost over a third of its value this year, and, thanks to tariffs, the company has removed the option to buy new, US-made vehicles in China.
When asked this week about the extended deadline to reach a TikTok deal in the US, a spokesperson for China's commerce ministry said the government opposes practices that ignore the laws of the market economy.
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