The idea of an interconnected world where multinational companies and consumers participate in a global tech stack is under pressure as the Trump administration attempts to rewire decades of established trade and security arrangements. As the “rules-based international order” gives way to a new order defined by national sovereignty and geopolitical power blocs, the tech sector will change with it. This paper explains how the tools of technology statecraft have evolved over successive US administrations, and how they may be applied and expanded by a new US administration intent on disrupting the global order. It also provides a framework for multinational companies’ strategic options in this new and uncertain environment.