TechNet Statement on China Tariffs Announcement
Washington, D.C. — TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today responded to the Trump Administration’s announcement that it will pursue tariffs and other trade-related measures against China in response to the country’s trade practices. The following statement is attributable to TechNet President and CEO Linda Moore:
“No one comes out a winner in a trade war, and we are concerned about the economic consequences tariffs will have on U.S. consumers, workers, and businesses of all sizes. In fact, one study shows tariffs will slow U.S. economic output by $322 billion over the next decade.
“The U.S. and China should remain at the negotiating table with the goal of addressing significant concerns about China’s trade policies and practices, securing meaningful change on their part, and avoiding lasting damage to our economy. Pressure on China is important in order for us to achieve our goals, but tariffs are not the way to do it.”
Earlier today, the White House announced plans to levy a 25 percent tariff on $50 billion of Chinese technology related-goods, pursue litigation at the World Trade Organization to challenge the Chinese government’s practices for licensing intellectual property, and implement investment restrictions and enhanced export controls.
TechNet is the national, bipartisan network of technology CEOs and senior executives that promotes the growth of the innovation economy by advocating a targeted policy agenda at the federal and 50-state level. TechNet’s diverse membership includes dynamic startups and the most iconic companies on the planet and represents three million employees and countless customers in the fields of information technology, e-commerce, the sharing and gig economies, advanced energy, cybersecurity, venture capital, and finance. TechNet has offices in Albany, Austin, Boston, Chicago, Olympia, Sacramento, San Francisco, Silicon Valley, Tallahassee, and Washington, D.C.