Donald Trump's love-in with US tech giants is officially over

The ‘bromance’ between President Trump and America’s tech giants has ended, an expert has told the Mail on Sunday.

Silicon Valley chief executives turned to Trump in the run up to his election victory, buoyed by his promises to cut regulation and taxes.

Amazon chairman Jeff Bezos, Meta chief executive Mark Zuckerberg, Apple boss Tim Cook and Sundar Pichai of Alphabet, the parent company of Google, all attended Trump’s inauguration in January.

Meta and Amazon both gave $1million to the inauguration fund, while Cook personally donated another million.

But their love-in has come to an end after Trump unveiled sweeping tariffs last week, wiping billions from the tech giants’ share prices.

Russ Shaw, of Tech London Advocates, said: ‘It was always an odd bromance to begin with, I think it was opportunism on both sides. Biden never reached out to the tech giants so Trump took advantage.

‘A sobering reality has kicked in now.’

Apple was particularly badly hit as Trump imposed crushing tariffs on China, where most iPhones are made. And Vietnam, where Apple now makes AirPods, iPads and Apple Watches, has been hit with a tariff rate of 46 per cent.

The tariffs could lead to the price of an iPhone rising by up to 43 per cent, meaning the most expensive iPhone would cost $2,300 (£1,785), up from $1,599 (£1,240) today.