Solar Energy News
INTERNET SPACE
Trump offers tech sector policy flips ahead of election
Trump offers tech sector policy flips ahead of election
By Julie JAMMOT
San Francisco (AFP) July 27, 2024

Fiercely against social media platform TikTok, cryptocurrency bitcoin and electric cars during his presidency, Republican presidential nominee Donald Trump has recently flip-flopped on several issues that are dear to Silicon Valley.

The presidential hopeful has, however, remained steadfast in some areas that are likely to be of concern to major US tech companies.

Here is a rundown of Trump's latest policy stance on five major tech sector issues.

- Electric vehicles -

"I love Elon Musk, I love him," Trump shouted Saturday during a campaign rally in Grand Rapids, Michigan, a state that is home to many US automakers.

That statement came after reports that Musk had pledged to donate $45 million monthly to the Republican after he narrowly survived an assassination attempt -- reports Musk later denied.

Trump has, however, spent years ridiculing electric cars, bashing them as too expensive and impractical, and denying climate change concerns that have driven demand for them.

"I'm constantly talking about electric vehicles, but I don't mean I'm against them; I'm all for them," he said, adding that the cars are not for everyone.

If elected, however, Trump has said he wants to end federal subsidies that encourage buying electric cars.

The move is not likely to hurt Tesla, some of whose models are not eligible for the rebates, but would hit its US competitors.

- TikTok -

Trump tried in vain to ban Chinese-owned video app TikTok on national security grounds during his presidency, and spoke out against China routinely during his failed bid for reelection in 2020.

Trump expressed concerns -- echoed by political rivals -- that the Chinese government might tap into US TikTok users' data or manipulate what they see on the platform.

He even called for a US company to buy TikTok, with the government sharing in the sale price.

Now that US President Joe Biden's administration has signed a law to ban the app for the same reasons, unless it is sold, Trump has reversed course.

"Now (that) I'm thinking about it, I'm for TikTok, because you need competition," he recently told Bloomberg.

"If you don't have TikTok, you have Facebook and Instagram -- and that's, you know, that's Zuckerberg."

Facebook, founded by Mark Zuckerberg and part of his Meta tech empire, was among the social media networks that banned Trump after attacks on the US Capitol on January 6, 2021, driven by concerns that he would use the platform to promote more violence.

- Crypto -

Trump's sudden support for cryptocurrencies appears to stem from a belief, expressed to Bloomberg, that "if we don't do it, China is going to figure it out -- or somebody else."

He has spun from calling bitcoin a "scam" and a disaster waiting to happen to saying in a post on his Truth Social platform that cryptocurrencies should be "MADE IN THE USA!!!"

The about-face, and his selection of crypto-industry proponent J.D. Vance as his running mate, has won Trump favor in an industry that feels it has been treated harshly by the Biden administration.

"A Trump presidency is the only path forward to help the US regulatory regime for crypto," said Digital Future founder Michelle Bond.

Trump has not explained how he intends to support the crypto sector.

- Imported talent and tech -

Trump took numerous measures that handicapped Silicon Valley during his time in the White House.

Among them was signing executive orders restricting visas for foreign workers whose skills are key to US-based tech companies.

Trump also imposed high tariffs that penalized companies such as Apple that depend on China for their supply chain.

This policy, which has largely continued under Biden, is likely to remain in place if Trump regains power.

On the campaign trail, Trump has suggested that he would expand his protectionist policies to include countries other than China as well.

On Tuesday, Musk said Tesla had put on hold plans to build a factory in Mexico because of concerns about potential tariffs under Trump.

- Taxes -

During his presidency, Trump's tax cuts mainly benefitted the wealthy, including tech titans.

In the run-up to the election, Biden -- and his successor as the presumptive Democratic nominee Kamala Harris -- said they wanted the rich to pay more in taxes.

Trump, however, says he wants to lower corporate taxes, even with tech giants reaping billions in profits.

Trump's administration had taken aim at tech giants Google, Amazon, Apple and Facebook through antitrust actions, but his focus on enforcing such regulations is not expected to remain as tight if elected to a second term.

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
Gaming sector recovery on flamboyant display at ChinaJoy expo
Shanghai (AFP) July 26, 2024
A long-haired sorcerer wearily checked his smartphone as elves and androids bustled past at the digital entertainment expo ChinaJoy on Friday, the crowds a testament to the local gaming industry's tentative recovery after a period on pause. China is the world's largest market for video games, but the sector has been through a tough time in recent years thanks to a government crackdown that restricted player hours and strangled new licences. But as the vast exhibition halls in Shanghai boomed wi ... read more

INTERNET SPACE
A recipe for zero-emissions fuel: Soda cans, seawater, and caffeine

Chemists Develop Efficient Method to Convert CO2 into Sustainable Fuel

Chemists design novel method for generating sustainable fuel

Methanol-powered ship to set sail for Europe's first 'green' route

INTERNET SPACE
AI startups swap independence for Big Tech's deep pockets

Apple agrees to abide by White House AI safeguards

Leicester Team to Minimize AI Algorithms for Enhanced Spacecraft Intelligence

Advancing Bio-Hybrid Robotics Calls for Regulatory Oversight and Public Dialogue

INTERNET SPACE
Engineers Develop Cost-Effective Seafloor Testing Device for Offshore Wind Farms

Why US offshore wind power is struggling - the good, the bad and the opportunity

Robots enhance wind turbine blade production at NREL

INTERNET SPACE
Uber teams up with China's BYD for 100,000 EVs

Volkswagen profit dips on slowing Chinese demand

BMW profits slip on weaker China sales

Nissan shares plunge after profit warning

INTERNET SPACE
Rice develops efficient lithium recovery method from battery waste

Star Catcher Secures $12.25M Seed Funding to Revolutionize Space Energy

Chinese EV battery giant CATL posts jump in profits

Optimizing Thermal Stability in Solid Oxide Fuel Cells

INTERNET SPACE
Singapore, US sign civil nuclear cooperation pact

Australia bans uranium mining at Indigenous site

Sweden and US sign cooperation pact on nuclear energy

Russia and Kyrgyzstan sign radioactive decontamination deal

INTERNET SPACE
Net zero goal critical to Earth's stability: study

Air New Zealand scraps 2030 emissions targets

Bosch to buy US firm's air conditioning business

UK climate strategy under scrutiny at landmark court case

INTERNET SPACE
How Spaceborne Satellites Enhance Forest Monitoring

Tree Bark Found to Remove Methane from the Atmosphere

Sierra Leone rangers fight uphill battle against deforestation

Natural forest regrowth can be better than planting trees: study

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.