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Many industrial bosses locked horns with Donald Trump from the start of his campaign, perhaps in the expectation that they would never have to face the consequences of his presidency. But with Trump’s win, they may now be forced to alter business practices that clash with his policies.
While Silicon Valley’s tone was derisive and hostile, Trump did not hold back the vitriol either and bumped heads with some of the biggest conglomerates in the market, including Apple and Amazon. Now that he is filling his cabinet and preparing to lay down regulations, his threats to the tech industry could soon turn into action.
Trump attacked Apple’s overseas manufacturing, saying “we’re going to get Apple to build their damn computers and things in this country”, adding that he would impose a 35% tax on those who outsource jobs. There is no word yet on whether or not Apple chief executive Tim Cook plans to amend his international supply chains.
Trump also criticised Amazon’s chief executive Jeff Bezos over his purchase of the Washington Post, accusing him of using the publication to influence people’s opinions of his company. “Believe me, if I become president, oh, do they have problems. They’re going to have such problems,” said Trump, claiming that Amazon was “getting away with murder tax-wise”. Ironically, Trump is now being accused of having conflicts of interest between his presidency and his businesses.
Trump also promised to block the flow of foreign workers into the US. The US government offers H-1B visas to engineers and other professionals for companies that need to hire their skills. But Trump argued that the visa is used as a Trojan horse to bring in cheap labour and hinder qualified Americans from obtaining those jobs.
Trump recently held an off-the-record meeting with technology firms. Sources say that his team kept mum on policy, and spent the meeting asking the bigshots of Twitter, Uber and Google for advice on how to navigate the sector.
So we will have to wait and see just what Trump’s presidency brings for industry.