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• Big Tech companies anticipate policy changes under the Trump administration, with a more business-friendly FTC chair and potential deregulation.
• Brendan Carr, expected FCC chairman, may regulate social media and halt media company mergers.
• Trump's administration could provide relief for TikTok and a more relaxed climate for Big Tech, contrasting with the EU's stringent regulations.
• Critics argue these changes could increase Big Tech's market dominance, stifle competition, and raise concerns about monopolistic practices.

The political landscape is set for a significant shift as Big Tech companies gear up for major policy changes under the administration of US President-elect Donald Trump. Known for his strong relationships with Big Tech CEOs, such as Elon Musk, and his positive rapport with Amazon Founder Jeff Bezos and Meta Co-founder Mark Zuckerberg, Trump's influence is expected to steer the direction of tech policy in the coming years.

The tech industry's support for Trump is also fueled by a shared disdain for Lina Khan, Biden's strong anti-trust FTC chair, who has been notably tough on Big Tech. A report by Counterpoint Research suggests that a more business-friendly FTC chair under the Trump administration, coupled with likely deregulation in the financial industry, could lead to increased M&A activity by Big Tech companies.

However, Trump's support from social media companies is less prominent due to his repeated claims of bias against conservatives on their platforms. With Trump's election, Brendan Carr, a member of the FCC, is expected to be named FCC chairman.

Trump's Impact on Social Media and TikTok

Carr has proposed deploying an agency against Big Tech censorship as part of the Heritage Foundation's Project 2025. While the specifics of this proposal remain unclear, Carr's actions as FCC chairman could include halting mergers of media companies and regulating social media.

The Trump administration also brings a sense of relief for TikTok. Trump campaigned on TikTok-friendly rhetoric and suggested that he may repeal the sell-off legislation already passed by the Senate. It is likely that he would reserve this action and use it as leverage in unrelated China negotiations.

The report also predicts a generally more relaxed climate for Big Tech under a Trump administration, diverging from other jurisdictions, most notably the EU. The EU's powerful European Commissioner for Competition has been a thorn in the side of US Big Tech companies, with high-profile tax and anti-trust cases brought against the likes of Apple, Amazon, Qualcomm, Google, Meta, Microsoft, and Mastercard.

Regulatory Differences and Potential Tensions

Trump has previously described Commissioner Margrethe Vestager as the EU's "tax lady" who "hates the US, perhaps worse than any person I have ever met". Regulatory differences, in addition to potential tariffs on the EU, could further inflame tensions between the US and the 27-member bloc.

In the past, Big Tech companies have faced significant challenges under different administrations. For instance, during the Obama administration, there was a push for stronger regulations on data privacy and antitrust laws. However, under the Trump administration, there is an expectation of a more relaxed regulatory environment, which could potentially lead to increased growth and innovation in the tech industry.

However, it's important to note that these policy changes are not without controversy. Critics argue that deregulation could lead to increased market dominance by Big Tech companies, stifling competition and innovation. Furthermore, the potential for increased M&A activity could lead to further consolidation in the tech industry, raising concerns about monopolistic practices.