Despite significant donations and efforts to appease President Trump, the technology industry is encountering backlash as his administration imposes tariffs, cuts research funding, and intensifies regulatory scrutiny. These actions have impacted the market negatively, with industry giants like Apple and Amazon facing higher operational costs. Furthermore, Trump's immigration policies threaten the availability of tech talent. Unlike the previous administration, when tech leaders opposed Trump, there has been a clear shift towards offering support in hopes of favorable policies. However, Trump's administration has largely not reciprocated with advantages for these companies.
The sweeping tariffs he imposed last week will squeeze Apple's iPhone supply chain and make it much more expensive for Amazon, Meta, Google and Microsoft to build supercomputers to power artificial intelligence.
The Trump administration has also signaled that it will continue an aggressive regulatory stance on reining in the power of the biggest tech companies, beginning next week with a landmark antitrust trial to break up Meta.
The efforts to court Mr. Trump are a far stretch from the industry's approach to his first administration, when many tech leaders were openly hostile toward the president.
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