The following statement is attributed to Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®:

“Congratulations to President Trump for reaching a landmark deal that heads off damaging tariff escalation and provides the certainty American businesses need to grow, invest, and create jobs. This is a positive sign that leaders on both sides recognize the importance and value of the U.S.-China trade relationship.

This deal helps to right the U.S.-China economic ship, providing a foundation for continued trade negotiations and steering the world towards renewed growth and stability. While both sides have signaled plans for broader trade talks, the agreement to reduce a tariff on Chinese goods under the International Emergency Economic Powers Act (IEEPA) from 20% to 10% offers much-needed relief for American businesses. These tariffs drive up costs across global supply chains for technology products Americans use daily, including smartphones, laptops, tablets, and video game consoles.

CTA urges both governments to build on this momentum by pursuing a stable, forward-looking trade framework that reduces trade barriers, curtails China’s non-market economic practices, deepens cooperation on technology and innovation, and ensures American families can afford the products they love and rely on.”