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At this year’s big national security conference in Aspen, Colorado, something unusual was in the air: worry. Normally, this event is filled with powerful conversations about defense, world politics, and innovation. But this time, most of the talk behind the scenes was about one thing: Donald Trump’s upcoming tariff decisions and how they could seriously mess with the future of many major companies, especially those working in defense and technology.
According to a report by Politico, many government officials, private company leaders, and international experts gathered as usual, but the mood was tense. Trump is expected to announce new tariffs by August 1, and nobody is quite sure how high they’ll be or what goods they’ll affect. That uncertainty has made it extremely hard for companies to plan anything, especially those trying to grow or invest more in the U.S.
Even though NATO countries recently agreed to increase their defense spending, which should mean more business for defense companies, executives are still on edge. They fear that Trump’s unpredictable trade policies could cut into profits and slow down operations. One startup founder who attended said that the U.S. government wants companies to grow, but is making that growth almost impossible with sudden rule changes.
People at the forum were also very careful with their words. Jeremy Shapiro from the European Council on Foreign Relations said he was surprised how unwilling anyone was to criticize the Trump administration, even privately. Some attendees even refused to be named, afraid of backlash. There was a clear sense that people were walking on eggshells.
Big names like Amazon Web Services pulled back their involvement at the event. AWS’s vice president dropped out of an important panel discussion, especially after the Pentagon also decided to skip some of its planned appearances. Tech companies like OpenAI, Google, and Anthropic, despite signing huge deals with the Department of Defense worth up to $200 million, are nervous too. They fear that if tariffs keep changing, their hard work and partnerships may not matter much in the long run.
Trump’s shifting rules are already taking a toll. Since April, there’s been a 10% baseline tariff in place, and now there’s talk of more being added. One tech company insider said it’s almost impossible to build long-term strategies or open new offices in the U.S. because nobody knows what the rules will be next month, let alone next year.
Even the event itself looked different this time. Companies that usually display their logos proudly decided to tone it down, using smaller or hidden signs. Some even chose to lie low completely, worried that high visibility could bring them trouble if the administration didn’t like what they said or did.
At its core, the whole situation reflects a much bigger shift happening in real time. One regular attendee put it bluntly: the global economy is being reshaped right now, and Trump’s tariff plans are a major part of that. With rising prices, shaky transportation costs, and unclear policies, many defense and tech companies are just trying to stay afloat until they know what’s next.