The Consumer Technology Association (CTA) issued a statement regarding the proposed increase to U.S. tariffs on products from Canada, Mexico and China.
For more information visit: www.cta.tech
Unedited press release follows:
CTA Statement on Proposed Tariff Increases
The following statement is from Gary Shapiro, CEO, Consumer Technology Association (CTA)® regarding President-elect Trump’s call for higher tariffs on products from Canada, Mexico, and China:
“President-elect Trump’s proposed sweeping new tariffs of 25% on all imports from Canada and Mexico and 10% on top of existing tariffs on all imports from China, collectively, our top three trading partners, if implemented, will be a major inflation-causing tax on Americans and harmful to the U.S. economy.
“We estimate that the new tariffs would burden over $350 billion in U.S. imports of technology products and inputs from these three countries. U.S. policymakers, especially in the Congress, must understand that the tariffs threatened by the President-elect would have the effect of separating the U.S. economy from those of these trading partners. More, they would invite these partners to retaliate against US exporters.
“Higher tariffs on our closest allies and trading partners like Canada and Mexico are counterproductive and will only lead to harm to U.S. businesses and consumers. CTA takes seriously and literally all tariffs proposed by the President-elect given how he followed through on his threats in his first term.
“According to our study ‘How the Proposed Trump Tariffs Increase Prices for Consumer Technology Products,’ a universal tariff of 10% and a 60% flat tariff on all imports from China will cause huge price increases for U.S. consumers: laptops and tablets are predicted to rise by 46%, video game consoles by 40%, and smartphones by 26%. The research also shows that the 60% flat tariff on all imports from China will largely drive production to other countries, not to the United States.
“We will be updating this study for CES® 2025, examining how a 20% universal tariff on all imports from all countries and a 100% flat tariff on all imports from China would impact the prices and purchases of consumer technology products in the United States. Tariffs are taxes that Americans pay and are ineffective and economically dangerous tools.
About Consumer Technology Association (CTA)®:
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 most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.
About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.
