TechNet Welcomes U.S.-China Announcement, But More Action Needed To End Trade War
Washington, D.C. — TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today commented on the announcement of a phase one trade agreement over tariffs between the U.S. and China, and ahead of additional tariffs that were scheduled to take effect this Sunday, December 15.
“This agreement is a welcome step in addressing the costly trade war between the U.S. and China, but much important work still remains,” said TechNet president and CEO Linda Moore. “Ensuring lasting reforms and enforcement mechanisms regarding intellectual property and technology transfer are critical for the U.S. innovation economy, and we are pleased these areas are beginning to be addressed in this phase one agreement.
“However, while American consumers will see some relief from lower tariffs, and companies facing new tariffs will not lose additional resources that could be used for better purposes like research and development, we are disappointed that many harmful tariffs will remain in place,” Moore added. “The U.S. and China must continue negotiations on a larger agreement that stops inflicting economic pain on American consumers and businesses, achieves enduring changes to China’s trade practices, and ends this trade war once and for all.”
In June, TechNet president and CEO Linda Moore testified before the Office of the U.S. Trade Representative (USTR) Section 301 Committee on its Investigation of China's Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation, outlining the adverse effects additional tariffs would have on the American innovation industry and the broader U.S. economy. Since the start of the trade war in 2018, TechNet has continued to urge the Trump administration to reconsider tariffs as the approach to addressing China’s unfair trade practices.
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 businesses 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.