Presidential election 2020 is the centre of attraction for the time being. Whether Trump or Biden, whoever wins the US election, there will be significant changes in the tech industry. The election will, for sure, impact the regulations against the tech giants, expansion of 5G and net neutrality, data privacy, US china trade policies, etc. Let us see what are the implications that will take place in the tech industry.
Regulations Against Tech Giants
Tech giants have been scrutinising by both of the parties due to the suffocating competition and monopolistic practices they have been inducing.
Trump has been trying to bring antitrust enforcement against 4 of the tech giants - Google, Facebook, Amazon, and Apple- and summoned them for an antitrust hearing in July 2020. Also in October 2020, DOJ itself filed a lawsuit against the antitrust violation of Google in online search and advertisement marketing.
But is it right to look at them as they are all the same? Well, they are offering different services and works in diverse categories. It seems to be a conjecture that might consist of any agenda.
Anyhow, if trump remains as president, they may face high intense scrutiny. Even if Biden comes to power, we expect to see a similar move.
Charles Sizemore, the principal, Sizemore Capital, says, “I don’t know how successful a government antitrust action against Facebook or Google would be. The last major antitrust action was against Microsoft. It ended up being a lot of sound and fury without action. But if one party will be more aggressive in attempting to regulate big tech, it’s the democrats.”
Trade War with China
The existing and developing trade war between the U.S and China is the outcome of Trump’s tariff charges. The tariff has affected the import of tech products, and tech companies that heavily depends on the Chinese manufacturing field.
If trump gets a second chance, the US-China relation seems to be at high risk. Also, the executives might reduce their investments in China when trump comes back in power. But when Biden comes in presidentship, the percentage of risk is much lesser.
With the return of trump, he will carry on with his unilateral decisions on tariffs and trade policies with China, which will be, on the other hand, a benefit for manufacturers of America, Indian, and other Asian countries.
Trump administration was trying hard to gain the 5G race against China, to fulfil the want of trump to maintain the US as the technological dominant across the world. They started to build strategies in 2018. Also, the trade war made a path for the ban of Huawei and empowerment of non-Chinese telecom equipment companies
While if Biden wins the election he might come with a multilateral approach towards new processes and protocols and collaborate with European allies. They will also keep up the existing tension and have a stringent stand opposing the Chinese government for stealing the intellectual and technical properties of the US.
Biden said in his speech at the City University of New York that “China can’t afford to ignore half the global economy if we’re united. That gives us substantial leverage to shape the future rules of the road on everything from the environment to labor to trade to technology to transparency.”
Regulations in Data Privacy
Even though both of them have alike views in this topic, the democrats might be coming with more stringent rules. The administration of Biden is more likely to regulate the use of AI and facial recognition. Also, he may set up robust enforcement like GDPR in the US to eliminate the unethical use of data.
Both Biden and Harris are most probably about to create more restrictions and security in facial recognition and other such AI techs. Also, they are more likely to point out the technical flaws in the accuracy of it.
Regulation in Immigration
If trump re-enters the position, there is a high chance to restrict H1- B visas which will affect the entry of professional immigrant workers in the US. While the tech giants are highly dependent on the foreign talents inside their firm.
Sundar Pichai the CEO of Google says “Immigration has contributed immensely to America’s economic success, making it a global leader in tech, and also Google the company it is today. We’ll continue to stand with immigrants and work to expand opportunity for all.”
Even though, if Biden wins, he will go through the traditional path and let low or high skilled employees immigrate.
In short, this election will decide whether the US will be the tech leader of the world or not. Anyhow, let us wait and watch who is going to be the next president and how his administration reshapes the tech world.