CEO DATELINE - Tech association: China tariffs will cost U.S. consumers billions
CEO DATELINE - Tech association: China tariffs will cost U.S. consumers billions
- August 17, 2018 |
- Walt Williams
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A new study commissioned by the Consumer Technology Association concluded the Trump administration's proposed tariffs on certain Chinese imports could raise prices on electronics goods purchased by U.S. consumers by billions of dollars.
At issue are proposed 10 percent and 25 percent tariffs on Chinese printed-circuit assemblies and connected devices. If President Donald Trump's tariffs go into effect, U.S. shoppers will pay between $1.6 billion and $3.2 billion more for connected devices such as gateways, modems, routers, smart speakers, smartwatches and other Bluetooth enabled products, according to the study.
The study also projects higher costs for U.S. electronics manufacturers that rely on Chinese parts and a resulting decline in U.S. exports of connected devices like smartwatches and wireless headphones.
"Foreign governments don't pay the cost of tariffs, Americans do—and for that reason, U.S. trade policy needs to steer clear of tariffs that act like taxes on American manufacturers and consumers," CTA CEO Gary Shapiro said.
The study was prepared for CTA by economics consulting firm Trade Partnership Worldwide. It is only the latest salvo in a battle by many business groups to get the Trump administration to drop the tariffs. http://bit.ly/2nIexTo
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