Republican presidential candidate Donald Trump, who has railed against the social media platform TikTok, the cryptocurrency Bitcoin and electric cars during his presidency, recently reversed course on several issues important to Silicon Valley.
But presidential candidate Trump has remained unwavering in some areas that may be of concern to major US tech companies.
Here’s a summary of President Trump’s latest policy positions on five major tech issues.
“I love Elon Musk. I love him,” Trump yelled Saturday at a campaign rally in Grand Rapids, Michigan, home to many U.S. automakers.
The statement came after reports that Musk had pledged to donate $45 million a month to President Trump after the Republican president narrowly survived an assassination attempt, a report Musk later denied.
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But President Trump has long ridiculed electric vehicles, calling them too expensive and impractical and dismissing the climate change concerns that have driven demand for them.
“I talk about electric vehicles all the time and I’m not against them. I’m all for them,” he said, adding that electric cars aren’t for everyone.
But if elected, Trump has said he wants to eliminate federal subsidies that encourage the purchase of electric vehicles.
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The move will not hurt Tesla, some of whose models are excluded from the discounts, but it will be a blow to its U.S. competitors.
Trump tried unsuccessfully to ban the Chinese-owned video app TikTok on national security grounds during his presidency, and he frequently criticized China during his unsuccessful 2020 reelection bid.
President Trump has expressed concerns, echoed by political opponents, that the Chinese government could access data about TikTok’s U.S. users and manipulate what they see on the platform.
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He called for a US company to buy TikTok and for the government to cover part of the sale price.
Trump reversed course after President Joe Biden’s administration signed legislation banning the app unless it was sold for the same reasons.
“Looking at it now, I support TikTok because we need competition,” he recently told Bloomberg.
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“Even if you don’t have TikTok, you have Facebook and Instagram. That’s Zuckerberg.”
Facebook, founded by Mark Zuckerberg and part of his meta-tech empire, was among the social media networks that banned President Trump after the Jan. 6, 2021, attack on the U.S. Capitol over concerns he would use the platform to incite further violence.
President Trump’s sudden embrace of cryptocurrencies appears to stem from a belief, as he told Bloomberg, that “if we don’t do it, China or somebody else will.”
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He has previously criticized Bitcoin as a “scam” and a disaster waiting to happen, but now, in a post on his Truth Social platform, he said the cryptocurrency “should be MADE IN THE USA!!!”
This policy shift, along with his selection of cryptocurrency industry advocate J.D. Vance as his running mate, has garnered Trump support from an industry that feels it has been treated harshly by the Biden administration.
“A Trump presidency is the only way to support a US crypto regulatory regime,” said Michelle Bond, founder of Digital Future.
President Trump has not explained how he plans to support the cryptocurrency industry.
President Trump has taken a number of steps negatively impacting Silicon Valley during his time in the White House.
That includes signing an executive order restricting visas for foreign workers with skills critical to U.S.-based tech companies.
President Trump also imposed heavy tariffs that hurt companies like Apple that rely on China for their supply chains.
This policy has been largely continued under the Biden administration and is likely to continue even if Trump returns to power.
During his election campaign, Trump suggested he would extend protectionist policies to countries beyond China.
Musk said Tuesday that Tesla was putting plans to build a factory in Mexico on hold due to concerns about possible tariffs under the Trump administration.
During his time in office, President Trump’s tax cuts primarily benefited the wealthy, including tech giants.
As the election drew near, both Biden and his Democratic presumptive successor, Kamala Harris, said they wanted the wealthy to pay more taxes.
But Trump has said he wants to cut corporate taxes, despite the billions of dollars in profits raked in by big tech companies.
The Trump administration has targeted tech giants such as Google, Amazon, Apple and Facebook through antitrust lawsuits, but if elected to a second term, his focus on enforcing these regulations is not expected to remain as strict as before.
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