Next week, U.S. President Donald Trump will meet with tech leaders to discuss the impacts of new tariffs and export policy changes on their businesses.
Impact on the Tech Sector
Executives from HP, Intel, IBM, and Qualcomm have agreed to meet with the Trump administration on March 10. President Trump's recent imposition of a 25% tariff on imports from Canada and Mexico has triggered various reactions, including a sell-off in crypto markets. The policy threatens the computer hardware industry by making manufacturing in locations like China more expensive.
AI Strategy and Chip Manufacturing
The administration is developing an AI action plan aimed at sustaining and enhancing America's leadership in the field. Additionally, President Trump has called on Congress to revoke the 2022 Chips Act, which provides billions in incentives to companies like Intel and TSMC. The President also hosted an event with TSMC, which pledged to invest $100 billion in U.S. plants.
Collaboration with Crypto Leaders
The U.S. President will also meet with crypto leaders to discuss policies aimed at accelerating crypto growth. Prominent figures include Gemini founders Cameron and Tyler Winklevoss, as well as Brad Armstrong from Coinbase and Michael Saylor from MicroStrategy. Trump confirmed plans for a strategic cryptocurrency reserve to deposit digital currency holdings acquired mainly from judicial seizures.
The planned meetings are expected to significantly impact the future of technology and cryptocurrency sectors in the U.S., with tariffs and export restrictions potentially shifting company strategies.
