Trump to Meet Intel, Qualcomm, HP, IBM CEOs: Tariffs, Exports, Fate of ‘CHIP Act’ at Stake

US President Donald Trump is set to meet with the heads of the country’s biggest tech companies amid concerns about import tariffs and tighter export regulations that could seriously impact the tech industry.

Image source: FOX 5 New York / YouTube

Among the invited representatives of companies that are seriously concerned about import tariffs are the heads of Intel, IBM and Qualcomm. HP also confirmed its participation, saying that trade policy and manufacturing in the US are key topics for the company. Intel, IBM and Qualcomm declined to comment, and the White House has not yet given an official response. However, according to Bloomberg, the meeting could take place this coming Monday.

The Trump administration is pushing a series of initiatives that could affect computer hardware makers. New tariffs would increase manufacturing costs in countries like China and could disrupt supply chains. Companies are also awaiting clarification on possible export restrictions on artificial intelligence (AI)-related technologies.

Trump is reportedly set to follow through on campaign promises, including imposing tariffs on key trading partners, which he says will help correct unfair trade balances. But experts say such measures could make it harder for tech companies that have long been accustomed to global manufacturing patterns.

At the same time, the US administration is developing an AI development strategy and conducting a public opinion poll. Trump also called on Congress to repeal the Chips Act of 2022, which provides billions in subsidies for semiconductor manufacturers such as Intel and TSMC. “Your Chips Act is a terrible, terrible thing,” Trump said, asking Congress to consider repealing the law (full speech on YouTube). However, Democratic Senator Chuck Schumer, one of the authors of the law, expressed confidence that the president’s initiative will not pass.

Recall that this week Trump also held a meeting with TSMC, during which the company promised to invest an additional $100 billion in building factories in the United States. Representatives of the Trump administration are confident that such agreements in attracting investment prove the effectiveness of the tariff policy, in contrast to subsidies under the Chip and Science Act.