The Trump Administration’s proposed import tariffs, and China’s announced retaliation, will hurt businesses and consumers.
This is according to Gary Shapiro, CEO of the Consumer Technology Association in the US.
The Trump Administration recently singled out TVs as one of the largest proposed categories for a 25% tariff.
“This staple of brick-and-mortar retailing makes no sense, given the president’s recent concern for their economic viability,” said Shapiro.
He said all the proposed tariffs and China’s equivalent response are a poison pill to US manufacturing, production, the country’s innovation economy, and American pocketbooks.
“Technology is an American competitive advantage and the future of our economy,” said Shapiro.
“Instead of raising costs for Americans and slowing US productivity, the administration should push for greater transparency, IP protection, and competition.”
He said Americans should resist tariffs that would jeopardise over two million jobs associated with digital trade.