Audio Video News

CTA Calls for ‘Immediate End’ to China Tariffs

Bob Ankosko  |  Aug 27, 2018

The Consumer Technology Association (CTA) is calling for an “immediate end” to the 25% tariff the White House imposed last Thursday on $16 billion worth of goods imported from China.

"The Trump administration's strategy of using tariffs to punish China for intellectual property theft and forced technology transfer is not working,” said CTA president and CEO Gary Shapiro. “Instead, it is damaging to American businesses and consumers.

“Not only is the White House failing to change China's behavior on IP,” he added, “but it is also putting extreme pressure on American innovation and businesses that invent, design, and engineer their IP in the United States.”

Shapiro went on to characterize the tariffs as a “tax on Americans” and pointed to a study done earlier this year showing that tariffs on $50 billion of Chinese imports, including TVs — coupled with retaliation by China — would reduce U.S. GDP by nearly $3 billion annually.

A recent study CTA commissioned with the National Retail Federation (NRF) examined the estimated impact of 25 percent tariffs on Chinese imports, and concluded that the price of TVs from China could increase by 23%.

Other China-built tech products affected by the tariffs include gateways, modems, routers, set-top boxes, e-readers, smartwatches, fitness trackers, streaming devices, Bluetooth speakers, and smart speakers.

The tariffs will put “hundreds of thousands of American jobs at risk,” Shapiro said, adding: “No wonder 90 percent of economists say tariffs will hurt us.

“The Trump administration has prioritized economic policies — such as tax reform — to help American workers and businesses,” he concluded. “But if the administration continues to implement tariffs, our country will face a weaker economy, job losses, and American families stuck with a higher cost of living."

Related:

Survey: Tariffs on TVs From China Would Cost U.S. Consumers Millions

COMMENTS
Billy's picture
Submitted by Billy on August 28, 2018 - 4:01am

The time to have acted would have been 30 years ago when the rules were changed (via corruption) to allow already highly profitable corporations to off shore our best paying middle class jobs to China that enriched the few. Even if those jobs came back, they would be automated. Nope, what we need now is strong unionization for workers, national health, and leadership that starts an American rebuilding of infastsructure and green energy that will provide quality jobs, but again, we have very wealthy that will interfer.

TowerTone's picture
Submitted by TowerTone on August 28, 2018 - 7:50pm

That you, Barry??

TowerTone's picture
Submitted by TowerTone on August 28, 2018 - 7:43pm

So the tariffs didn't work in a day or two so let's just abandon them and go back business as usual because someone is losing money in the short run and doesn't give a flying fornication about the long run.

This is the attitude that got us in this situation to begin with.

Some of us are worried more about the next generation and not just the next quarter....

Billy's picture
Submitted by Billy on August 28, 2018 - 10:05pm

Our real problem is government corruption fueled by greedy short term profit minded morally exempt corporations. The tax cuts that will bankrupt the country, have done nothing to make us grow, hear about any new factories here lately? All that money is going into executive stock options and stock buybacks to boost stock price for insiders, just like Obamas 700 billion went to the 1% and did nothing. We need real Progressive tax reform like in the old days, the people who benefit the most pay the most because the money they make comes from being able to use our system. Any tax cuts they see should be directly linked into creating REAL jobs in THIS country, period. To do that requires long term thinking that would put slow steady growth back into wall street and no longer make it a play pen for the ultra wealthy who treat it like a casino. Pension funds and Americans could invest with safety again. In the long run, we would pay more for goods made here, but the trade off would be a better future for our children. Plus American made goods were far better, lasted longer, were made to repair, not replace. I would once again pay more for that like I used to, plus with proper unionization and government regulations, I would have a better real income anyhow, plus it would slash crime and mental health in this country too. How many cheap flat screens do we really need, anyhow? I myself already have plenty, so it will be a long while before I need a new one, and I hope the next one I need, will be made here, just like the ones I used to buy in the 1970s and 1980s. Bring back the middle class, pay off the national debt at the same time, get the money and influence out of politics once and for all, just like Jefferson warned us to do in the 1790s. He was a smart man, why didn't we listen? People got to stop ignoring this, and pay attention, we are almost out of time. Oh yes, and my name is not Barry, it really is Billy.

TowerTone's picture
Submitted by TowerTone on August 29, 2018 - 8:09am

This is an audiophile forum, and of course I called you Barry because you are saying much of the same stuff President Obama did and it failed.

I have no further desire to engage you on this matter here. It's boring. I'd much rather talk music equipment.

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