Tech CEOs initially supported Donald Trump, hoping deregulation would boost profits. However, the tariffs imposed under his administration have significantly impacted the tech industry, causing economic turmoil. Venture capitalists Marc Andreessen and Ben Horowitz argued that defeating China was essential for tech preeminence, leading them to back Trump despite their Democratic roots. The resulting tariffs have disrupted supply chains and hurt American tech companies, who rely heavily on Chinese components; many face bankruptcy or canceled IPOs, illustrating the unintended consequences of Trump's policies on the tech sector.
Though such warmongering sentiments are clearly behind the president's enormous tariffs on Chinese goods, it also undermines the Silicon Valley CEOs who lined up to kiss his ring because, to put it bluntly, almost all the components for American tech are made in China.
As Vox reports, any gains tech companies have gleaned from Trump's deregulation are minuscule in comparison to the economic havoc the president has wreaked with his foolhardy tariffs.
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