TechDogs-"Trump's Take On Tech: TikTok, EVs, AI, Crypto, And More"

Regulatory Technology (RegTech)

Trump's Take On Tech: TikTok, EVs, AI, Crypto, And More

By TechDogs Bureau

TD NewsDesk

Updated on Tue, Jan 21, 2025

Overall Rating
On January 20, 2025, one of the most anticipated events of recent times came to pass.

The United States’ 47th President Donald John Trump assumed office, priorly serving as the 45th President.

The inauguration ceremony that witnessed his swearing-in also played host to several respected dignitaries, some of which included the world’s richest individuals, who also happened to be leaders of the largest technology conglomerates.

In attendance were Elon Musk (the leading man of Tesla, SpaceX, X, Neuralink and more), Jeff Bezos (Founder and Chairman of Amazon), Mark Zuckerberg (CEO of Meta), Bernard Arnault (CEO of LVMH), Sundar Pichai (CEO of Alphabet), Tim Cook (Apple’s CEO), Sam Altman (CEO of OpenAI), India’s richest man Mukesh Ambani (Chairman of Reliance Industries), and others.

TechDogs-"An Image Of Mark Zuckerberg (Meta), Jeff Bezos (Amazon), Sundar Pichai (Alphabet), Elon Musk (Tesla, SpaceX, X)"
This also included TikTok CEO Shou Zi Chew, who was invited to attend the ceremony amid promises from the then President-elect that the recent ban imposed on TikTok would be delayed.

The ban was enforced one day before outgoing President Joe Biden’s last day. However, the app resumed services around 14 hours after complying with the directive, as Trump promised to pass an executive order once back in office.

It’s been less than 24 hours since Trump returned to the presidency, and he’s already signed an executive order that delays the ban by 75 days, which would allow Trump’s “administration an opportunity to determine the appropriate course of action with respect to TikTok.”

However, the order comes with a twist. While signing, Trump suggested that the U.S. government should be a half-owner of TikTok’s U.S. businesses, which would also allow it to police the site, or the U.S. could impose tariffs on China.

Responding to this, China’s foreign ministry said companies should “decide independently” on their operations and deals.

While the order directs the Justice Department to issue letters to companies such as Apple, Google, and others that “there has been no violation of the statute and that there is no liability for any conduct that occurred during the above-specified period”, it may not be enough to bring the app back to app stores in the United States.

The ban, which was upheld by the Supreme Court, doesn’t allow Trump to bring the app back unless it has “binding agreements” to be sold, as per law.

TechDogs-"An Image Of President Donald Trump And Vice President JD Vance"
Next to get a reversal was Joe Biden’s 2021 executive order that wanted to ensure that at least 50% of all new vehicles sold in the country were electric vehicles (EVs).

Trump’s revoke, which comes after he thanked U.S. automakers for backing him during his inauguration speech, aims to curb the distribution of unspent government funds to develop EV charging stations.

Furthermore, Trump plans to end waivers for states to adopt zero-emission vehicle rules by 2035, will consider ending EV tax credits, cut back on a waiver granted to California that would end the sale of gasoline-only vehicles by 2035, as well as other rules that enforce states to meet specific EV targets.

Trump said his administration should consider “the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase.”

During his inauguration speech, Trump mentioned plans to pump, use, and export more oil, and even uttered the phrase associated with the love for gasoline vehicles, “Drill, baby, drill.”

Among all this, Trump also pulled out from the Paris climate agreement and WHO (the World Health Organization) while promising to rollback Biden’s clean-energy initiatives.

Another revoke by Trump came to Biden’s 2023 AI executive order aimed at reducing the risks that AI poses to consumers, employees, the economy, and national security.

As per Biden’s order, developers of AI systems were required to share the results of safety tests with the U.S. government before they were released. This order also required agencies to set standards for such testing, while considering biological, chemical, nuclear, radiological, and cybersecurity risks.

The move comes as Trump’s administration supports “AI development rooted in free speech and human flourishing.” It also follows new AI chip and technology restrictions imposed by the U.S. Department of Commerce that drew criticism from industry leader NVIDIA.

TechDogs-"An Image Of President Trump Showing An Executive Order"
While Trump spoke a lot about the tech world, he didn’t say anything about the crypto sector, even though he’s been vocal about his support for it.

Ironically, both President Trump and First Lady Melania released crypto meme coins in the days leading up to his return. While $TRUMP was released first and hit a 1000% rise in price, it fell around 50% when $MELANIA was released.

Trump’s coin began trading at $6.50, hit a high of $74.77 and ultimately settled at around $37 (at the time of writing) with a market capitalization of $7.5 billion. On the other hand, $MELANIA has been trading at $4.44 (at the time of writing), 40% below its opening, and has been below since Trump’s inauguration.

Bitcoin hit an all-time high of $109,071 as Trump was being sworn in, but eventually dropped as the crypto world was not addressed by the new President.

What do you think about Trump’s policy changes and executive orders? Do you think his term will be better for technology companies?

Let us know in the comments below!

First published on Tue, Jan 21, 2025

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