politics
Big Tech basically took Trump’s unpredictable trade war lying down
From Apple gifting a gold statue to the US taking a stake in Intel.
TL;DR
- The tech industry faced unpredictability and financial strain due to Donald Trump's trade war policies throughout the year.
- Companies like Apple and Intel engaged in unusual negotiations and made concessions, leading to concerns about financial stability and legality.
- The legality of Trump's tariff impositions is being challenged, with a potential for the US to owe up to $1 trillion in refunds if businesses win their cases.
- Future concerns include "tariff stacking" on components like semiconductors, potentially leading to higher prices and reduced US tech competitiveness.
- Despite claimed goals, reshoring efforts have largely failed, with a reported loss of manufacturing jobs.
- The TikTok deal, involving majority US ownership and algorithm licensing, was finalized, with its future under US control uncertain.