The directors of HP, IBM, Qualcomm and Intel, among others, are sitting with US President Donald Trump. They want to explain to him the impact of his trade policy on their companies.
Trump’s imposition of import duties on foreign firms also has consequences for American tech companies. For example, they have to pay more for hardware produced in China. They don’t like that and want to explain it to the American president personally on Monday.
After all, they still have some questions about trade policy. For example, the companies would like to know what export restrictions could be imposed on hardware. Since they have many foreign customers, this could hit them hard.
Trump’s main aim with his tariff war is to ensure that American companies produce more in their country. HP confirmed the meeting to Bloomberg. The other companies chose not to do so.
According to The Wall Street Journal, toy manufacturers are also bracing for the impact of the tariffs.