How Will Trump Change the Face of Technology in America and the World?

In response to anticipated political shifts, many companies within the clean energy sector are reconsidering their growth strategies.

This retrenchment follows recent remarks by Donald Trump, who declared his intent to halt climate change initiatives, dismissing them as a “green new scam.”

The statement has triggered widespread concern among businesses that have thrived under policies favoring clean energy, prompting them to reassess their future plans.

Simultaneously, other companies, particularly electric vehicle manufacturers, are bracing for a potential downturn in sales should Trump return to power.

His vocal opposition to the expansion of electric cars signals significant challenges ahead for this industry, casting doubt on its near-term prospects.

Shifting Stances

These shifts may extend beyond clean energy into other sectors, notably technology and related industries.

A Trump presidency could represent a profound turning point, necessitating close attention to emerging developments as businesses navigate this evolving landscape.

Donald Trump, who initiated the crackdown on the short video app TikTok during his presidency from 2017 to 2021, has recently reversed his stance.

In his latest remarks to supporters, Trump signaled a retreat from his earlier efforts to ban the Chinese-owned app, stating that he no longer sees the need for a renewed battle against TikTok.

In a surprising move to demonstrate his changed perspective, Trump has even joined the platform, amassing several million followers on his account.

Despite this apparent shift, the challenges facing TikTok are far from over.

ByteDance, the Chinese parent company of TikTok, is under significant pressure to divest from the app, following a recent court ruling.

Should ByteDance fail to comply, TikTok may still face the threat of a complete ban in the United States.

Meanwhile, Trump's rhetoric on electric vehicles had shown his strong opposition to their proliferation.

He argues that the growth of the electric vehicle market could lead to significant job losses in the traditional automotive sector, a concern that resonates with his broader skepticism about the impact of technological change on American employment.

Trump’s rhetoric has been heightened by a recent jobs report that showed a slowdown in hiring, an event that triggered a sharp downturn in the U.S. stock market, referred to by some as “Red Wedding Day.”

In response, Trump has vowed to take aggressive action against electric vehicles, including plans to raise tariffs on Chinese-made electric cars and revoke incentives for manufacturers. If enacted, these measures could deal a severe blow to the electric vehicle industry.

Trump’s recent shift in tone regarding electric vehicles marks a notable softening in his campaign rhetoric, though it aligns with the more favorable stance he took during his presidency and 2020 reelection campaign.

Despite this apparent moderation, Republican leaders and industry insiders anticipate that Trump would still dismantle President Biden’s initiatives aimed at expanding EV adoption in the United States, including the repeal of tax incentives that Trump has criticized as advantageous to China.

Musk’s 'Alliance'

Elon Musk, the owner of X (formerly Twitter), has emerged as a prominent supporter of Donald Trump, despite a history of dispute between the two.

Their once-fraught relationship has evolved into a strategic alliance, driven by shared interests in the face of shifting political dynamics.

This newfound “alliance” was recently on display during a live broadcast on X, where Musk appeared alongside Trump, attracting millions of viewers.

Musk's backing of Trump comes after a series of investigations into his companies by the Biden administration, targeting everything from hiring practices to the acquisition of Twitter, and even adopting Tesla's Autopilot feature.

With Trump poised for a potential return to the White House, Musk is likely betting that his support will shield his enterprises from further scrutiny or regulatory challenges.

For Trump, X offers an invaluable platform to engage directly with his supporters, free from the constraints he faced on other social media networks.

After being permanently banned from several platforms following the Capitol insurrection—when his statements were deemed to have incited the violence—Trump now sees X as a key tool for “unfiltered communication.”

He aims to make it his primary outlet for public statements, relishing the freedom it affords him.

Musk’s influence on the cryptocurrency market also brought attention to Trump’s shift in the realm of cryptocurrencies, Trump’s position has undergone a dramatic shift. During his presidency, he was one of the most vocal critics of the burgeoning digital currency industry.

However, in a surprising reversal, Trump recently suggested that the United States should take a leadership role in the crypto space, particularly in Bitcoin.

He has promised to unveil a plan aimed at establishing America as the global capital of cryptocurrencies, positioning the country ahead of competitors like China.

This pivot reflects the broader division among U.S. political figures, with some viewing cryptocurrencies as a risky but promising opportunity, while others remain deeply skeptical of their impact.

Tech Giants

In recent years, President Joe Biden has mounted an aggressive campaign against tech giants such as Apple, Google, Amazon, Meta, and Microsoft.

These companies have faced intense scrutiny and legal challenges over allegations of monopolistic practices and unfair competition, which critics argue have harmed smaller businesses and diminished consumer purchasing power.

Should Kamala Harris, a likely contender against Donald Trump, win the presidency, this crackdown on technology companies is expected to continue. Conversely, if Trump regains office, analysts predict a significant shift in approach.

The antitrust pressure on these corporations is likely to ease, with Trump potentially offering them greater leeway for mergers and acquisitions to sidestep accusations of monopolistic behavior.

Trump’s less aggressive stance can be traced to his business-oriented background, which fosters a natural alignment with corporate interests.

His approach is expected to be softer toward large companies, reflecting a broader pro-business philosophy.

Central to Trump’s potential economic strategy is his “Make America Great Again” slogan, which would likely focus on domestic growth through tax cuts and economic incentives.

He may prioritize sectors like real estate and social media, where he sees opportunities to bolster American interests, particularly in the face of competition from China.

His stance toward clean energy and electric vehicles, however, may be less supportive, as these industries may not align with his immediate economic objectives.

It is important to note, though, that Trump is known for his unpredictable and adaptable nature.

His positions, especially in the political arena, are subject to change based on shifting circumstances and interests.

This flexibility underscores Trump’s approach to governance, where strategic adjustments are often made to align with evolving priorities.