U.S. tech interests brace for impact from French presidential vote

U.S. technology companies that have have been steadily increasing their involvement in Europe are watching this weekend’s French presidential election vote for its possible ricochet effect on the tech industry.

Privacy Shield, a data collection sharing agreement between the U.S. and Europe, could be in the crosshairs as a result of the upcoming vote.

Both candidates, right-wing National Front candidate Marie Le Pen and centrist En Marche candidate Emmanuel Macron, have championed policies that will impact technology interests.

{mosads}Should Le Pen win, her immigration stance could hurt technology companies strapped for engineering talent, with criticism likely to mirror concerns about President Trump’s proposed reforms to H1-B Visa programs in the U.S.

Macron, the heavy front-runner according to betting markets, has already taken aim at major U.S. technology companies on the issue of sharing user data with government intelligence agencies.

“Democratic states must have access to content exchanged between terrorists on social media and instant messaging,” Macron said when launching his campaign in April, and specifically called out U.S.-based tech companies Google, Facebook, Apple and Twitter. In the U.S., Microsoft has sued the government to protect its users’ data and other technology companies have lobbied on the matter.

“We need to figure out the terms and the safeguards. But the goal is clear. If I’m elected, I’ll undertake this at the very beginning of my five-year mandate at the European level and within NATO,” Macron said.

He also wants to renegotiate Privacy Shield and reduce the digital divide on broadband connectivity in France. Even if some of his comments might make U.S. tech companies nervous, he has also been described as a strong advocate for the French tech scene. 

“He’ll go further in the liberalization of taxes, he’ll improve employment laws and the way he wants to reform the wealth tax will encourage more money to invest in start-ups,” Gaël Duval, co-founder and chief executive of Je Change and early supporter of Marcon, told the Financial Times.

In contrast, France’s digital minister Axelle Lemaire expressed concern about the impact Le Pen’s positions might have on French start-ups.

“I think that in the end, the people supporting Marine Le Pen might be misled. Because open borders, without being naïve, and free trade have shown that they are bringing improvement to people’s lives. What we have to fight against is inequalities — and it is true they’ve been growing as well,” Lemaire told Business Insider in March.

Macron led Le Pen in polls heading into the weekend.