The following statement is attributed to Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)® on the Trump Administration’s intention to impose reciprocal tariffs on other nations:
 
“Most reciprocal policies as described today by President Trump are common sense. As part of our Innovation Agenda, we support a focus on how countries treat American exports in crafting trade policy. Having some level of reciprocity seems fair, including reducing or eliminating American tariffs for our allies and those treating our exporters fairly.
 
“We hope to continue to work with the Administration and Congress on policies that ensure American innovators, entrepreneurs, and retailers are treated fairly, American consumers do not suffer from higher prices, and our economy does not slow down from the devastating effect of inflation and high interest rates.

“To drive innovation and economic growth, Congress should pass new Trade Promotion Authority, validating President Trump’s authority to negotiate trade deals that remove tariff barriers in key markets. This memorandum is a good starting point to investigate the high tariffs and other discriminatory barriers to trade we want to bring down in other markets. The remedies that U.S. agencies identify to address these barriers must include negotiations. We urge President Trump to use any leverage gained through tariff negotiations to break down barriers—not build them up—and to expand opportunities for American businesses, while avoiding tariffs that cause inflation and lead to higher prices for consumers.”
 
EDITORS NOTE: View CTA Trade and Tariff resources here, and learn more about CTA’s Innovation Agenda here.