Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 279

Posts Tagged ‘tariffs’

CTA: Raising Tariffs Hurts Americans, Not China

Posted by fidest press agency su martedì, 27 agosto 2019

The following statement is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA)® regarding President Trump’s announcement to increase the current Section 301 tariffs on Chinese products:“Enough is enough – as evidenced by today’s 623 point drop in the Dow, global markets are reeling on fears of a global recession. And today’s announcement only inflicts more pain on American businesses, workers and families. The president is right to fight against China’s forced technology transfers and IP theft – but tariffs are taxes on Americans, putting us on the wrong economic path and compromising our global leadership. “These escalating tariffs are the worst economic mistake since the Smoot-Hawley Tariff Act of 1930 – a decision that catapulted our country into the Great Depression. Instead of making America great again, the president is using tariffs to make a great economic mistake – again. How much longer will our families, companies and economy be forced to bear the financial burden of this misguided trade policy? Clearly, tariffs aren’t moving us toward a deal with China – it’s time to end the trade war and come to an agreement.”

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Tariffs Are Taxes, Says CTA

Posted by fidest press agency su martedì, 7 maggio 2019

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 percent: “The president is seeking a better trade deal with China. But he must understand the Chinese don’t pay for these U.S. tariffs – American families, workers and companies pay for tariffs.”Tariffs are taxes. And implementing these 25% tariffs on just five-days’ notice would roil our markets, damage U.S. businesses and do serious harm to Americans’ retirement funds and pensions.”
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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Study Shows Tariffs Against China Would Destroy Thousands of American Jobs

Posted by fidest press agency su giovedì, 3 maggio 2018

The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs, according to a new study released today by the National Retail Federation and the Consumer Technology Association. The report finds that four jobs would be lost for every job gained. “As administration officials prepare to head to China for trade talks, the livelihoods of American workers hang in the balance,” NRF President and CEO Matthew Shay said. “We hope this is the start of a serious negotiation process that leads to a more open Chinese market and protects U.S. jobs and economic growth. We must resolve this trade dispute without resorting to job-killing tariffs and retaliation.” The study warns that imposing tariffs on an additional $100 billion of Chinese imports would come at a significant cost to the U.S. economy, destroying 455,000 jobs and reducing GDP by $49 billion.“Tariffs could wash away the benefits recent tax reform will have on the economy, bringing uncertainty to American businesses and devastation to some workers in key states – they might lose their jobs over a trade tax,” CTA President and CEO Gary Shapiro said. “Rising costs on farmers, manufacturers and service providers isn’t the answer; it shows protectionism will weaken America. We are encouraged by Treasury Secretary Mnuchin and U.S. Trade Representative Robert Lighthizer’s visit to China and wish them success addressing China’s problematic trade barriers. We believe it is best for the administration to seize on China’s willingness to negotiate to achieve positive outcomes for U.S. workers, rather than via tariffs that ultimately harm us.”While the impact of the tariffs would be felt across various sectors of the U.S. economy, agriculture would be hit especially hard. The net income of farmers would decline by 6.7 percent, and 67,000 agriculture jobs would be lost. And the hit to farmers would more than double if the tariffs expanded to an additional $100 billion of products. Farmer income would drop by 15 percent, and jobs in the sector would decline by 181,000. The study also details the employment impact of tariffs at the state level. The ten states that would suffer the highest job losses are California, Texas, Florida, Washington, New York, Georgia, Missouri, Pennsylvania, North Carolina and Ohio.Another recent NRF and CTA study examined the consumer impact of proposed tariffs on television sets and other products from China. The study found that a TV made in China that costs American consumers $250 today would cost $308 after the tariffs are applied, an increase of 23 percent.

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