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CTA Praises China ‘Deal One’ – Urges Further Progress to End Tariffs

January 15, 2020 GMT

ARLINGTON, Va.--(BUSINESS WIRE)--Jan 15, 2020--

The following statement is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA)®, on the signing of a “Phase One” trade deal with China:

“Phase One is a big step toward normalizing our trading relationship with China and ending this costly trade war. President Trump made a deal that rolls back tariffs and addresses critical tech priorities including intellectual property protections and forced technology transfer.

“Tariffs are taxes on Americans – not the Chinese. The postponement of tariffs is a temporary reprieve on many of Americans’ favorite tech products. But market uncertainty remains until we see permanent tariff removal—or return the billions of dollars our nation has paid because of these tariffs. Businesses and markets crave certainty and relief from the whiplash caused by the ups and downs of our trade negotiations.

“We look forward to working with the administration to ensure effective enforcement of the Phase One agreement and the shift to a Phase Two deal—one we hope will eliminate special tariffs on Chinese imports once and for all.”

The Phase One trade deal rolls back tariffs on List 4A products—including smart speakers, wireless headsets and earbuds, TVs and smart watches—from 15% to 7.5% and postpones tariffs on list 4B products—including laptops and tablets, video game consoles and smartphones. Tariffs on Lists 1-3 products—including desktop PCs, chargers, power adapters and connected thermostats—remain in place.

According to new data from CTA, compiled and analyzed by The Trade Partnership, the U.S. tariffs have cost consumer tech companies a total of $17.5 billion, including $1.7 billion in taxes for products critical to 5G deployment. In addition:

Consumer Technology Association:

As North America’s largest technology trade association, CTA® is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the largest, most influential tech event on the planet. Find us at CTA.tech. Follow us @CTAtech

View source version on businesswire.com:https://www.businesswire.com/news/home/20200115005724/en/

CONTACT: Jennifer Drogus

703-907-7694

jdrogus@CTA.tech

www.CTA.tech

or

Tyler Suiters

703-907-7654

tsuiters@CTA.tech

KEYWORD: VIRGINIA CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC

INDUSTRY KEYWORD: MOBILE/WIRELESS OTHER GOVERNMENT TECHNOLOGY TELECOMMUNICATIONS PUBLIC POLICY/GOVERNMENT WHITE HOUSE/FEDERAL GOVERNMENT HARDWARE PUBLIC POLICY CONSUMER ELECTRONICS OTHER POLICY ISSUES

SOURCE: Consumer Technology Association

Copyright Business Wire 2020.

PUB: 01/15/2020 01:12 PM/DISC: 01/15/2020 01:12 PM

http://www.businesswire.com/news/home/20200115005724/en