Trump set to meet US tech leaders early next week
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US President Donald Trump has vowed to follow through on his promise to levy tariffs on key trade partners, an attempt to offset what he characterises as unfair balances.
PHOTO: EPA-EFE
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San Francisco – US President Donald Trump is poised to meet next week with the leaders of some of the country’s largest technology companies, which are facing the prospect of import tariffs and stricter export rules that could upend their businesses.
A group including the chief executive officers of HP, Intel, IBM and Qualcomm has discussed meeting the administration on March 10, according to people familiar with the matter, who asked not to be identified because the plans are not public.
HP confirmed that the company would be there on March 10. “Some of the topics top of mind for our leadership team are trade policy and US manufacturing,” a representative said.
Spokespeople for Intel, IBM and Qualcomm declined to comment. A representative of the White House did not immediately respond to a request for comment.
The White House has promoted a range of policy changes that threatens to roil the computer hardware industry. Tariffs will make manufacturing hubs such as China more expensive and potentially disrupt supply chains.
Technology companies also want clarity on what restrictions might be placed on their export of advanced technology for artificial intelligence (AI) data centres, which are being built all over the world.
Mr Trump has vowed to follow through on his campaign promise to levy tariffs on key trade partners, an attempt to offset what he characterises as unfair balances. The changes would make it more difficult for the electronics industry to operate in the globally segmented way that has made it so efficient.
The administration is developing an AI action plan, seeking to “sustain and enhance” America’s leadership in the field, and is seeking public input on the effort.
Mr Trump also has called on Congress to revoke the 2022 Chips Act, bipartisan legislation that is providing billions of dollars in incentives to companies like Intel and Taiwan Semiconductor Manufacturing Company (TSMC).
“Your Chips Act is a horrible, horrible thing,” Mr Trump said during an address to Congress on March 4,
Senate Democratic Leader Chuck Schumer, who negotiated the law, predicted on March 5 that Mr Trump’s request would fail.
Separately, Mr Trump hosted an event this week with TSMC in which the chipmaker pledged to invest an additional US$100 billion (S$133 billion) in US plants. The administration has pointed to the agreement as a sign that the country can use tariffs – rather than Chips Act-style incentives – to attract investment. BLOOMBERG
