Trump to Meet with Heads of US Tech Companies Early Next Week

U.S. President Donald Trump is scheduled to meet with the heads of major U.S. big tech companies early next week, Bloomberg reported on the 5th (local time).

According to sources familiar with the matter, CEOs of HP, Intel, IBM, and Qualcomm have discussed the meeting with the Trump administration. The meeting is expected to take place on the 10th. These companies are likely to be significantly impacted by the Trump administration's tariffs and export regulations.

Donald Trump, President of the United States. Photo by Reuters-Yonhap News

HP confirmed its attendance at the meeting on the 10th, stating, "Some of the key concerns of our management include trade policy and U.S. manufacturing." Intel, IBM, and Qualcomm declined Bloomberg's request for comment.

Bloomberg explained that the tariff and trade policy changes being pursued by the Trump administration could affect the computer hardware industry. Imposing tariffs may increase production costs in manufacturing hubs like China and disrupt supply chains. This is expected to make it difficult to operate in the globally specialized manner that the electronics industry relies on for efficiency.

Additionally, the Trump administration is gathering input while establishing an AI Action Plan to maintain leadership in the artificial intelligence (AI) sector. As tech companies are building AI data centers worldwide, they want to understand what restrictions might be imposed on the export of advanced technologies used in these centers.

The potential repeal of the CHIPS Act is also a concern for these companies. Intel, which is mentioned as a participant in the meeting, is the biggest beneficiary of the CHIPS Act. Passed with bipartisan support in the U.S. Congress in 2022, the CHIPS Act provides $52.7 billion in total support over five years to companies building semiconductor manufacturing facilities in the U.S.

The day before, President Trump hinted at repealing the CHIPS Act during his speech at the joint session of Congress, saying, "The CHIPS Act and everything else must be eliminated." He argued that even without subsidies from the CHIPS Act, companies would produce semiconductors in the U.S. if tariffs are imposed. Notably, the recent announcement of an additional $100 billion investment in the U.S. by Taiwan's TSMC supports President Trump's remarks.

Meanwhile, the day before announcing a one-month tariff exemption on automobiles from Mexico and Canada, President Trump spoke with the CEOs of U.S. automakers General Motors (GM), Ford, and Stellantis, which have production bases and supply chains in those countries, to discuss the matter.