Tech companies need to get their overseas cash hordes back ASAP, says VC

Calacanis: It's been a very rough start to the year for Uber

Now is the time for tech companies to repatriate money parked overseas, early Uber investor Jason Calacanis said in an interview Tuesday on CNBC's "Squawk Alley."

"We gotta get that money back now, or those countries are going to take it," he went on, citing the European Union's latest gambit to extract money out of Apple as an example.

Calacanis, founder of email newsletter generator, also referred to President 's bold stance on trade, suggesting he would go to "war" with certain countries, including China, to accomplish his policy agenda.

Trump once went so far as to threaten to slap a 35 percent import tax on cars, should the company move its production to Mexico. This is creating a lot of unwanted and unnecessary tension between U.S. and foreign entities, Calacanis warned.

Tech companies such as , and are undoubtedly strong in "printing money," Calacanis said. But for many of these types of companies the majority of their revenue is being made and held overseas, he said.

"If [the U.S.] can't do commerce in Asia, Europe or South America," what's going to happen to tech? All of these companies' money spent internationalizing would go to waste, Calacanis said.