CTA Praises Signing of ‘Phase One’ Tariff Trade Deal

SEATTLE (Scrap Monster):  The Consumer Technology Association (CTA) has welcomed the signing of the “Phase One” trade deal with China.

In a statement released yesterday, Gary Shapiro, President and CEO, CTA noted that Phase One is a big step toward normalizing the trade relationship between the U.S. and China. The deal addresses critical tech priorities including intellectual property protections and forced technology transfer.

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Reiterating the argument that tariffs are taxes on Americans, CTA observed that the postponement of tariffs will provide temporary reprieve on several tech products. However, market uncertainty will continue to exist until special tariffs on Chinese imports are removed permanently. The Association urged the administration to ensure effective enforcement of Phasae One deal and to move forward in achieving the next phase of the deal, at the earliest. It must be noted that the tariffs have cost approximately $17.5 billion in taxes for U.S. consumer tech companies.

As per “Phase One” deal, tariffs on List 4A products, including smart speakers, wireless headsets and earbuds, TVs and smart watches have been halved to 7.5%. Also, tariffs on List 4B products, including laptops and tablets, video game consoles and smartphones have been postponed.