The President of the United States, Donald Trump, will hold a meeting with the CEOs of the country’s biggest technology companies next week. The discussion will cover topics such as import tariffs, export restrictions, and chip production. President Donald Trump is gearing up to meet with major players in the technology sector. This meeting, which will be attended by CEOs of giant companies like HP, Intel, IBM, and Qualcomm, holds great significance for the future of the tech world. Among the main agenda items of the meeting are import tariffs, export restrictions, and regulations on the export of artificial intelligence technologies. According to Bloomberg’s report, the meeting will take place on Monday, March 10, at the White House. It is expected that during this gathering, company leaders will raise concerns about how the additional customs duties imposed by the Trump administration could adversely affect computer and hardware manufacturers.

WHAT ARE COMPANIES WORRIED ABOUT?
The Trump administration has started applying customs duties ranging from 10% to 25% on products and components imported from countries such as China, Mexico, and Canada. Following this development, the prices of crucially important semiconductors, steel, and aluminum, which hardware manufacturers primarily import from China, increased. This led to a rise in production costs. The imposed custom duties have also caused problems in the supply chains of American manufacturers. American companies heavily reliant on components imported from China have experienced disruptions in their supply chains and struggled to find alternative sources.

Concerns are arising about American manufacturers losing their competitiveness in international markets due to increased production costs. The higher costs are expected to result in increased selling prices for computers, smartphones, processors, graphics cards, and similar products. Experts believe that competing against low-cost Chinese companies will be challenging for American giants in this situation.

CHIP ACT MAY BE REPEALED
One of the important agenda items of the meeting will be the CHIPS and Science Act, which came into effect in 2022. Aimed at promoting semiconductor production in the U.S., this law provides large companies with billions of dollars in government support and tax incentives. Donald Trump believes these incentives are unnecessary and plans to repeal the law. In recent days, speaking to Congress on the matter, the U.S. President used phrases such as “horrible thing” to describe the Chip Act and called for its repeal. It is indicated that during the meeting on Monday, company CEOs will request Trump to keep this law in place.