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Penalizing Other Countries With Tariffs Means Americans Pay the Price, Says CTA

Arlington, VA – May 31, 2019 – 

The follow is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA), regarding President Trump’s plan to raise new tariffs on products from Mexico:

“This is a short-sighted, short-tempered reaction that doesn’t recognize a basic economic fact – tariffs are taxes. This administration must understand using tariffs to penalize other countries – whether that’s China as a negotiating tactic or our close ally Canada for allegedly being a ‘national security threat’ – means American families, workers and companies pay the price.

“The administration made important progress yesterday by alerting Congress that the new NAFTA (USMCA) may come soon – but almost immediately backslid by slapping tariffs on Mexico, a valuable neighbor. This is potentially devastating to American small businesses and all the people they employ.

“Mexico is not only one of our top trading partners, it’s the number one export market for American consumer technology sector products – $41 billion worth of U.S. consumer tech sector goods in 2017, almost double that of our next highest export market. If Mexico reciprocates with tariffs of its own, our country’s employers and workers will end up paying twice over for the administration’s misguided trade policies.”