Press release

Higher Tariffs are Only Higher Taxes, Plain and Simple, Says CTA

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The follow is attributed to Gary Shapiro, president and CEO, Consumer
Technology Association (CTA), in response to President Trump’s decision
to increase tariffs on $200 billion worth of Chinese imports to 25%:

“Tariffs are taxes, plain and simple. And they’re paid for by U.S.
consumers, workers and businesses – not by China.

“Our industry supports more than 18
million U.S. jobs – but raising tariffs will be disastrous. The
tariffs already in place have cost the American technology sector about $1
billion more a month since October. That can be life or death for
small businesses and startups that can’t absorb the added costs.

“Beyond the damage to American businesses, the tariffs actually hurt us
– and help China – in the global race to 5G technology. In less than a
year under these tariffs, the U.S. tech industry has paid over $745
million extra for 5G-related products.

“We agree with the administration – our country needs an enforceable
trade agreement with China that protects intellectual property. But
raising tariff rates or imposing new tariffs on American families is not
a winning negotiating tactic.”

About Consumer Technology Association:

Consumer Technology Association (CTA)TM is the trade
association representing the $398 billion U.S. consumer technology
industry, which supports more than 18 million U.S. jobs. More than 2,200
companies – 80 percent are small businesses and startups; others are
among the world’s best-known brands – enjoy the benefits of CTA
membership including policy advocacy, market research, technical
education, industry promotion, standards development and the fostering
of business and strategic relationships. CTA also owns and produces CES®
– the world’s gathering place for all who thrive on the business of
consumer technologies. Profits from CES are reinvested into CTA’s
industry services.

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    2020
    January 7-10, 2020 – Las Vegas, NV