Trump's China tariff plan would be 'devastating' says CTA CEO Gary Shapiro

On Thursday, Gary Shapiro, the CEO of the Consumer Technology Association (CTA), expressed his opposition to President Trump’s plan to impose tariffs on Chinese imports. Shapiro, whose organization represents the $377 billion U.S. consumer technology industry, warned that such a move would be “devastating” for both American consumers and businesses.

Shapiro’s comments came in response to President Trump’s announcement that he plans to impose tariffs on an additional $300 billion worth of Chinese goods. The move is the latest escalation in a trade war between the U.S. and China, which has been ongoing since last year.

“Tariffs are taxes on American consumers and businesses,” Shapiro said in a statement. “They raise the cost of goods and services, reduce consumer choice, and stifle innovation. We don’t like tariffs from any administration, and we have been vocal in our opposition to them.”

Shapiro argued that the tariffs would not only harm consumers but also damage the U.S. technology industry, which relies heavily on Chinese imports. “China is a critical partner for the U.S. tech industry, and these tariffs would disrupt the global supply chain, causing significant harm to American businesses and workers,” he said.

The CTA CEO also expressed concerns that the tariffs could lead to retaliatory measures from China, which could have a negative impact on U.S. exports. “We urge the administration to reconsider these tariffs and work towards a comprehensive trade agreement with China that promotes fair trade and supports American jobs and innovation,” Shapiro said.

Shapiro’s opposition to the tariffs is not surprising, given the CTA’s long-standing stance against protectionist trade policies. The organization has consistently advocated for free trade and open markets, believing that they promote innovation, economic growth, and consumer choice.

The CTA has also been critical of other Trump administration trade policies, such as the steel and aluminum tariffs imposed last year. Shapiro has argued that these tariffs harm American businesses and consumers, while failing to address the underlying issues driving the global oversupply of steel and aluminum.

The CTA’s opposition to the China tariffs is shared by many other industry groups and business leaders, who have warned about the negative consequences for the U.S. economy. The Business Roundtable, a group of CEOs from some of America’s largest companies, has also spoken out against the tariffs, arguing that they would reduce economic growth and create uncertainty for businesses.

Despite such opposition, the Trump administration has shown no signs of backing down from its plan to impose tariffs on Chinese imports. The White House has argued that the tariffs are necessary to address China’s unfair trade practices and intellectual property theft, which it claims have cost American jobs and damaged the U.S. economy.

The ongoing trade tensions between the U.S. and China have already had a significant impact on global markets, with both sides imposing tariffs on billions of dollars’ worth of each other’s goods. The situation has created uncertainty for businesses and consumers alike, and many fear that it could escalate into a full-blown trade war.

In conclusion, the CTA’s opposition to the China tariffs highlights the widespread concern among industry leaders and experts about the potential negative consequences of protectionist trade policies. While the Trump administration believes that the tariffs are necessary to address China’s unfair trade practices, many argue that they will ultimately harm American consumers and businesses, while failing to address the underlying issues driving the global oversupply of goods. As tensions continue to escalate between the U.S. and China, it remains to be seen how the situation will unfold and what impact it will have on the global economy.