With the 2024 election fast approaching, one of the questions on people's minds is how the two candidates will handle the tech sector. Deborah Perry Piscionne knows a lot about money and tech. She started a company called Work3 Institute to think about how government influences businesses.
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What does she think would happen to American tech if Donald Trump were president again?
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Tough stance on Chinese technology
Piccione believes President Trump will take a tougher stance against Chinese tech companies.
“If Trump wins the 2024 election, his tech priorities could include intensifying the technology race with China,” she said. “Trump could expand bans and restrictions on Chinese tech companies doing business in the United States or accessing U.S. technology, further decoupling the U.S. and Chinese tech sectors.”
She also spoke about a major issue in Silicon Valley: “Another significant issue that is likely to come under scrutiny is the influx of foreign investment into strategic technology locations, particularly Chinese investment in Silicon Valley real estate.”
She thinks President Trump may create new rules about who can buy land in key tech areas.
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Changing how social media works
Piccione believes Trump will try to change the way social media companies operate.
“There's a big push towards an overhaul of social media regulation,” she said, “which could involve significant changes to Section 230, potentially reducing the major platforms' ability to moderate content and increasing their liability for user-generated content.”
Simply put, social media companies may need to be more careful about what users post on their websites.
Speed up your internet
Trump may also place a premium on faster internet connections.
“Piccione said:[a] “We will focus on advancing 5G and 6G technologies. This includes swiftly deploying 5G networks nationwide, allocating spectrum for these technologies, providing tax incentives for infrastructure investments, and increasing funding for 6G research to maintain U.S. leadership in communications.”
This means making America the best country for high-speed internet.
Why this election matters
Piccione believes this election could change the way America deals with technology.
“Countries that lead in critical technologies such as artificial intelligence, quantum computing and advanced communications are likely to have significant economic and geopolitical advantages,” she said.
In other words, the country with the most advanced technology has the potential to become the more powerful in the world.
Piscione believes a Trump victory could usher in a major shift in how the US engages with other countries when it comes to technology.
“As technology becomes an increasingly important tool of soft power and economic influence, it will play a central role in diplomatic relations, alliance formation and global governance structures,” she said.
Technology can affect how America interacts with other countries.
“Elected leaders will be tasked with fostering an environment that promotes innovation and maintains economic competitiveness while addressing complex issues such as data privacy, cybersecurity and the ethical implications of emerging technologies,” she said.
So whoever becomes president will be tasked with keeping information safe and helping American technology companies grow.
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This article originally appeared on GOBankingRates.com: I'm an economist: Here's my prediction for the tech sector if Trump wins the election
