TRUMP AND MUSK: POLITICAL AND TECHNOLOGICAL INFLUENCE OVER THE NEXT 4 YEARS

Donald Trump’s comeback as the president of the U.S.A in the 2024 election is nothing short of remarkable, in light of his extremely low ratings during his last few weeks in office. His first term from 2017 to 2021 reflected how unconventional his governing methods are, and his days in office were marked by impeachment, corporate tax cuts, major restrictions on immigration, and severance of several international ties, including those with China. Trump has made it no secret that he believes strongly in the ‘America first policy’, and aims to ‘Make America great again’. He shares this sentiment with the…
January 12, 2025

Donald Trump’s comeback as the president of the U.S.A in the 2024 election is nothing short of remarkable, in light of his extremely low ratings during his last few weeks in office.

His first term from 2017 to 2021 reflected how unconventional his governing methods are, and his days in office were marked by impeachment, corporate tax cuts, major restrictions on immigration, and severance of several international ties, including those with China.

Trump has made it no secret that he believes strongly in the ‘America first policy’, and aims to ‘Make America great again’. He shares this sentiment with the tech billionaire Elon Musk, and their friendship and resolve have been solidified due to his 2024 victory. The pair have expressed various ways to make their country ‘Great Again’, including massive changes in the political approach of the US government and greater strides in technology. Set for inauguration on 20th January, 2025, the world is looking forward to Trump’s policies and decisions, and how they are likely to affect global politics and technology over the next four years.

Influence on the Economy

Following his victory as president, Trump plans to appoint Musk and Vivek Ramasway to oversee the Department of Government Efficiency, DOGE (a tribute to Musk’s crypto currency). The tech entrepreneur has expressed his dislike for the previous government’s budget and upon appointment, plans to slash government spending by at least 30%. he has promised to cut 2 trillion dollars of the government’s annual budget and reduce the number if government agencies from 428 to 99. his partner Vivek also plans to cut 75% of the federal government workforce, leaving about 1.5 million Americans jobless.

Musk has made his support for Trump and his policies very clear, although their views diverge at some point. The tech billionaire, appointed to lead DOGE after he endorsed Trump and his immense support of the presidential campaign,  agrees with Trump on slashing federal spending and his plans to reform the government’s budget. However, these cuts may prove impossible as most of the federal budget goes to healthcare and retirement benefits for millions of Americans. Musk stated on his platform, X, that Americans should prepare for an initial increase in economic hardship. This is likely to extend to the rest of the world.

Political Uncertainty and Unrest

Many world leaders fear that Trump’s win will cause political and economic destabilization. In his first term, Trump alienated many of America’s allies including China and NATO. Many leaders are anxious about what this term will entail. Trump announced that there would be a general increase in tariffs, with a particular focus on Chinese imports, further worsening the political and technological rivalry between these two economic giants. Trump has suggested a 20% tariff on all goods imported into the U.S., and up to 60% tariffs on Chinese products. This may destabilize the global markets, forcing countries to look elsewhere for trade and investments. European countries like France, Britain and Hungary are also unsure of their alliances with the U.S., since they cannot be certain that the U.S will come to their defense. Europe and Asia generally view Trump’s win in a more negative light.

Ongoing political wars

 Trump also intends to end the Russia-Ukraine war. Due to his long-standing friendship with Russian President Putin, NATO and Ukrainian leaders are uneasy, as America’s support may be for Russia. However, the Russian president’s spokesperson has declared that US-Russia relations are at ‘the lowest point in history’, creating uncertainty.

In the Middle East, Trump has plans to reconcile Israel and Saudi Arabia, including conflicts with Gaza, Hamas and Hezbollah. Per his strengthened alliance with Israel during his first term, it is likely the U.S. will be backing Israel. However, due to his incredible unpredictability, it is uncertain. A peaceful way to end these wars is greatly needed, since further conflict may aggravate the already destabilized stock markets, fuel and grain imports.

Benefits to global technology

The United States is the origin of several of the world’s leading tech firms and AI. The effects of Trump’s win on tech is leaning more towards continuity than reform. In the technological sector, Trump intends to domesticate the production of tech materials such as semiconductors, chips, etc. This may reduce the importation of these materials from countries like China and Mexico, offsetting the trade balance. The CHIPS and Science Act, enacted under Biden’s administration may be subjected to reform, as Trump has declared it as ‘bad policy’.

When Trump won in 2024, there was an increase in the stock prices across Wall Street, a great benefit for many tech firms including NVIDIA, Alphabet, Open-AI, Tesla and Microsoft.

Trump’s return to office is likely to accelerate technological development in America, perhaps maintaining the country’s dominance as the world’s technological giant.

Musk in Innovation

He has also prioritized the deregulation of AI, increasing innovation, and in a more negative light, rivalry with countries like China. Musk is also very pro-crypto, and with Trump’s support, there will be a likely surge in the global crypto market.

Musk continues to influence the world of technology via his interest in AI, his vision for climate change, and advancing technology through projects like his electric vehicles, Neuralink, and Space X. He is also greatly interested in sustainable energy and harnessing solar power. During the Trump administration, due to their alliance, his aim to promote solar power and decentralize the energy grid may be realized, causing great strides in technology over the next 4 years.

Effects on Social Media

With regards to socials, the Trump administration plans to de-emphasize restrictions on content moderation. Trump is a big supporter of free speech, and this interest aligns with that of Musk, who owns and advocates for free speech on his platform X. The two are likely to reform and redefine how such platforms operate.

Recently, there has been a global push for content regulation on social media, examples being the banning of minors from social media, and a strict policy on tech platforms. Therefore, there may be a clash with the EU and countries like Australia, creating tension.

Donald Trump and Elon Musk will certainly be shaping the world in various ways over the next 4 years. Trump’s policies have the potential to reshape global politics and technology immensely, and cement America’s position as one of the greatest nations in the world. Musk’s contributions to both the political and technological environment could impact the way we live significantly. Over the next 4 years, their actions, decisions and policies will play a huge role in shaping the United States and the entire world as a whole.

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