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CTA: Latest China Tariffs Akin to 25% Tax on Tech

SV Staff  |  May 22, 2019

The latest round of proposed tariffs on goods made in China would impact an additional $300 billion worth of imports, including TVs, wireless headphones, smart speakers, laptops, and smartphones.

The move is essentially a 25% tax on American consumers and businesses, according to Gary Shapiro, CEO of the Consumer Technology Association (CTA).

“The Trump Administration has now formally proposed an excise tax or tariff on consumers’ favorite technology products…,” Shapiro said in a statement. “This immense round of tariffs is exponentially worse for our country. China is one of the top export markets for American technology — and its retaliatory tariffs will choke U.S. job creation and global sales for American manufacturers and innovators.”

He went on to say, “President Trump is right to oppose China’s bad trade practices. But National Economic Council Director Larry Kudlow has acknowledged what we’ve said all along — tariffs are taxes paid by Americans, not China. Raising tariffs in this questionably legal fashion hurts American families, workers and businesses.”

COMMENTS
brenro's picture
Submitted by brenro on May 22, 2019 - 11:00am

I was planning to hold out until we had HDMI 2.1 and ATSC 3.0 tuners but I went ahead and pulled the trigger now before prices jumped.

Billy's picture
Submitted by Billy on May 22, 2019 - 9:25pm

Tariffs are a stupid idea at this point. We needed them 30 years ago when the working mans living was being decimated by already rich people trying to get richer. Our fearless leader says we need to make things here, yeah, right, like that is going to happen now. The barn door was left open decades ago, shut it now, but those cows are long dead. Maybe if the flawed recent tax cuts for the uber rich would have been directly tied with proven new high paid manufacturing jobs on these shores, then these would make sense. Now it is too little too late. The Chinese understand that the government will eventually change, they will wait this out. They can, a very small number of rich Westerners have made them able to wait us out.

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