CompTIA Praises 90-Day Truce in U.S.-China Tariff War
CompTIA, a trade association for the global technology industry, issued the following statement from CompTIA Executive Vice President for Public Advocacy Elizabeth Hyman regarding the December 2nd decision by the White House to not impose new tariffs for 90 days while continuing discussions with China over trade.
On January 1, 2019, U.S. tariffs on Chinese goods had been set to rise from 10 to 25 percent. However, at the current G20 economic summit being held in Argentina, U.S. President Donald Trump and China’s President Xi Jinping agreed to a 90-day truce on imposing any additional tariffs, with Trump agreeing not to raise tariffs to 25 percent.
“A delay in the levying of 25-percent tariffs and a return to the negotiating table are two positive actions that give companies a 90-day reprieve from more harmful taxes. However, no long-lasting solution has been accomplished yet.
“Thus far, the current trade war has only hurt American consumers and companies. Products are more expensive for consumers and companies have seen their profits thinned. Even during this 90-day negotiation period, many of the damaging tariffs will continue to stand.
“We urge U.S. and Chinese officials to come together and achieve permanent outcomes that will provide tech companies with certainty on a wide variety of issues to include intellectual property protection, cybersecurity, market access and cross-border data flows.”
- August 2018: China Threatens Tariffs on U.S. Printer, Copier, and Part Imports
- July 2018: U.S. Levies Another Tariff on China-Made Goods
- July 2018: U.S. Tariff on China-Made Printer and Copier Parts Start Today
- June 2018: HP Responds to Proposed Tariffs on China-Imported Products
- June 2018: U.S. Slaps 25-Percent Tariff on China-Made Products
- October 2017: Sales up for Ninestar’s Lexmark; Ninestar to Shift Lexmark Manufacturing to Zhuhai, China