With Sweeping New Tariffs, White House Continues Inflation, CTA CEO Says
May 14, 2024
Article Summary
Statement attributed to Consumer Technology Association (CTA)® CEO Gary Shapiro regarding the White House announcement on the conclusion of the U.S. Trade Representative's review of the China Section 301 tariffs.
The following statement is attributed to Consumer Technology Association (CTA)® CEO Gary Shapiro regarding the White House announcement on the conclusion of the U.S. Trade Representative's review of the China Section 301 tariffs:
“Once again, the administration has missed an opportunity to tackle inflation and provide American consumers and small businesses with much-needed tariff relief on the consumer technology products that keep them productive, connected and entertained. The White House’s decision to ignore input from stakeholders and continue the tariffs after this long-awaited review will inflame trade tensions with China, undermine U.S. companies’ competitiveness, weaken worker productivity, and disrupt supply chains. Raising tariffs on electric vehicles, lithium-ion batteries, and critical minerals especially will burden U.S. innovation and technology development and is directly harmful to the administration’s sustainability goals. Tariffs are taxes on consumers and hurt U.S. businesses."
“Once again, the administration has missed an opportunity to tackle inflation and provide American consumers and small businesses with much-needed tariff relief on the consumer technology products that keep them productive, connected and entertained. The White House’s decision to ignore input from stakeholders and continue the tariffs after this long-awaited review will inflame trade tensions with China, undermine U.S. companies’ competitiveness, weaken worker productivity, and disrupt supply chains. Raising tariffs on electric vehicles, lithium-ion batteries, and critical minerals especially will burden U.S. innovation and technology development and is directly harmful to the administration’s sustainability goals. Tariffs are taxes on consumers and hurt U.S. businesses."