\n<\/p>\n
For a while, it looked like President Donald Trump was going to have Big Tech\u2019s back.<\/p>\n<\/div>\n
Now, the tech industry is collateral damage in his global trade war.<\/p>\n<\/div>\n
On Thursday, European Commission President Ursula von der Leyen<\/strong> floated the idea<\/a> of placing \u201ca levy on the advertising revenues of digital services\u201d if tariff negotiations with the US go south. This would be the opposite outcome that tech CEOs like Mark Zuckerberg<\/strong> were hoping for when they threw their support behind the new administration. <\/p>\n<\/div>\n To someone like Zuckerberg, Trump was supposed to be the strong-armed leader to bring the overbearing EU to heel. Instead, the rhetoric between the US and EU is ratcheting up just weeks before the EU is already set to fine<\/a> Meta (and Apple) for violating its Digital Markets Act. <\/p>\n<\/div>\n While certainly more of a self-inflicted wound, Elon Musk\u2019s <\/strong>popularity in the US has \u201cinverted as his support for President Trump has increased,\u201d Nate Silver <\/strong>wrote this week<\/a>. Tesla\u2019s stock price, meanwhile. has lost over a third of its value this year, and, thanks to tariffs, the company has removed<\/a> the option to buy new, US-made vehicles in China. <\/p>\n<\/div>\n As I predicted last week<\/a>, TikTok is particularly screwed by Trump\u2019s extra-aggressive China tariffs, which the country has promised to \u201cfight to the end.\u201d<\/a> Even as it\u2019s still business as usual for TikTok\u2019s rank and file, the app\u2019s fate in the US feels increasingly precarious. When asked this week about the extended deadline to reach a TikTok deal in the US, a spokesperson for China\u2019s commerce ministry said<\/a> the government \u201copposes practices that ignore the laws of the market economy, plunder by force, and damage the legitimate rights and interests of enterprises.\u201d <\/p>\n<\/div>\n \u201cThere\u2019s not going to be much dialogue until that\u2019s resolved,\u201d one of TikTok\u2019s aspiring bidders, AppLovin CEO Adam Foroughi<\/strong>, said this week of the tariffs. The situation is such a mess that the US stock market tanking also \u201cdrowned out the ability to infer feedback\u201d from shareholders about AppLovin\u2019s bid, Foroughi told Bloomberg<\/em><\/a>. <\/p>\n<\/div>\n If anything, this week is a reminder that the tech industry has grown so large and influential that its leading companies are tools for leverage between countries. In times of relative peace, that influence can be beneficial for Big Tech. When things get hostile, Big Tech is put in the crosshairs.<\/p>\n<\/div>\n Some noteworthy job changes in the tech world:<\/em><\/p>\n<\/div>\n As always, I want to hear from you, especially if you have feedback on this issue or a story tip. Respond here or ping me securely on Signal<\/a>.<\/p>\n<\/div>\n