In testimony submitted to the Office of the United States Trade Representative (USTR) on the proposed tariffs on $16 billion of Chinese products, Consumer Technology Association (CTA) Vice President of International Trade Sage Chandler argues tariffs negatively impact businesses and consumers and fail to correct China’s unfair practices:
“The tariffs will also harm millions of U.S. businesses and workers across every sector that use innovative technology products to increase productivity, as well as consumers who depend on connected devices to access the internet on a daily basis. China is the exclusive or primary manufacturer of a range of goods that Americans enjoy every day, from cell phones to household goods. Tariffs on these products will put consumers at risk of price increases on numerous consumer goods, raising most Americans’ cost of living. Tariff-driven price increases will boost inflation, and the impact will fall disproportionately on older and lower-income Americans who are more likely to rely on lower-cost Chinese imports.
“Ironically these tariffs will harm the industries they seek to protect while failing to influence China's behavior or help the administration's stated goal of eliminating China’s discriminatory trade practices.”
The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs annually, according to a study released by CTA and the National Retail Federation. The report finds that four jobs would be lost for every job gained.
The full submitted testimony can be read here.