WASHINGTON – ITI president and CEO Dean Garfield released the following statement about President Trump’s decision to move forward with 25 percent tariffs on Chinese technology imports worth roughly $50 billion.
“Tariffs are the wrong answer to China’s ongoing discriminatory and damaging trade practices. By imposing tariffs on consumer goods and key components of such goods, the president would needlessly take money out of Americans’ pockets – harming the very people he hopes to help, not punishing China. We urge President Trump to reassess the approach, engage in real negotiations with China, and work with allies to change Chinese policies.”
Tariffs on components and finished products would have the greatest impact on consumers, including tariffs on LED screens, printer and scanner components, and sensors. Increased costs on these items would raise the price of televisions, computers, phones, and similar everyday items.