Tariffs Are Taxes, Says CTA

ARLINGTON, Va.–(BUSINESS WIRE)–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.”

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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