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POLITICO Tech

Trump’s tariffs are threatening California’s cash cow

Mar 7, 2025
Chase DiFeliciantonio, a POLITICO reporter focused on AI and automation policy, discusses the unsettling effects of President Trump's tariffs on California's tech industry. The conversation highlights the anxiety among lawmakers and economists as tech giants like Apple face potential disruptions, impacting stock prices and state budgets. The guest also explores the implications for consumer prices and the urgent need for semiconductor manufacturing, along with the evolving political landscape shaped by these trade policies.
10:34

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Quick takeaways

  • The recent tariffs imposed and rolled back by President Trump are creating significant anxiety in California’s tech industry, threatening the state’s economic stability.
  • California lawmakers are increasingly focusing on regulating artificial intelligence to ensure safety and address societal implications amid evolving tech policy discussions.

Deep dives

Impact of Tariffs on California's Tech Industry

The recent imposition and subsequent rollback of tariffs by President Trump have raised significant concerns among lawmakers in California, particularly given the state's dependence on the tech industry for tax revenue. Immediate reactions indicate a negative impact on stock valuations of major tech companies, leading to anxiety about California's broader economic stability. With companies like Apple and NVIDIA heavily reliant on international supply chains, the tariffs complicate production and result in economic uncertainty not just for large corporations but also for smaller suppliers along the supply chain. As tariffs remain in place, potential long-term consequences could include rising consumer prices and reduced profits for tech firms, further jeopardizing California's budget.

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