June 15, 2018

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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 is moving ahead with 25 percent tariffs on $50 billion worth of Chinese technology imports.  The following statement is attributable to TechNet President and CEO Linda Moore:

“These tariffs are a mistake.  The U.S. and China are now firmly on a path to a trade war, one that will ultimately hurt U.S. consumers, workers, and businesses of all sizes.  We have countless examples throughout history that prove tariffs do not work, and one recent study shows that tariffs now will slow U.S. economic output by $322 billion over the next decade.

“We hope the Trump Administration will realize this action is ill-advised and reverse course before the U.S. economy, our workers, and consumers begin to feel the pain.  There is no question pressure on China is needed to address significant concerns about their trade policies and practices, but tariffs are not the way to do it.”

About TechNet
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 American companies ranging from startups to the most iconic companies on the planet and represents over 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.

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