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The tech industry is worried about Trumps Mexico tariffs The Verge

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The tech industry is worried about Trumps Mexico tariffs The Verge Tariffs are not an appropriate tool to address serious immigration challenges Over the past year, trade relations between the United States and China have continued to strain under increased tariffs imposed by the Trump administration Now, President Trump is shifting his focus toward Mexico, another of the USs top trade partners, and consumer tech groups

On Thursday, that he plans to impose a 5 percent tariff on all imported goods from Mexico as a direct response to the number of unauthorized immigrants who are arriving in the United States via the southern border The tax will go into effect on June 10th and increase each month, reaching a maximum of 25 percent in October, unless Mexico finds a way to deter illegal migration across the US southern border In statements on Friday, top tech industry, lobbying, and advocacy groups argued that these new tariffs were inappropriate and could lead to Mexico imposing its own tariffs on the US in retaliation, with serious consequences for the industry if the situation escalates This is potentially devastating to American small businesses and all the people they employ, Gary Shapiro, president and CEO of the Consumer Technology Association CTA , said in a statement This is a short sighted, short tempered reaction that doesnt recognize a basic economic fact – tariffs are taxes

The CTA sponsors consumer tech events, including its annual Consumer Electronics Show CES These new tariffs on Mexico piggyback off of the Trump administrations ongoing trade war with China Earlier this month, like cellphones and laptops would be subject to new tariffs Because of this, some companies, , recently announced that they will move production from China to Mexico Mexico has emerged as one of the USs top export markets, alongside China and Canada

, the US exported dollar 41 billion worth of consumer tech goods to the country in 2017 alone GoPro declined to comment Tariffs are not an appropriate tool to address serious immigration challenges, Jason Oxman, CEO and president of the Information Technology Industry Council ITI , said in a statement The most effective way to address these concerns is for the administration and Congress to pass a permanent solution to fix the United States broken and outdated immigration system These new tariffs were announced with House Democrats over the United States Mexico Canada Agreement USMCA , a new trade agreement the administration has proposed to replace the North American Free Trade Agreement NAFTA

On Thursday, Trump imposed a 30 day time limit on talks to amend the bill, pressuring Democrats, like House Speaker Nancy Pelosi D CA , to move ahead with it It was this bill that tech groups like the Computer and Communications Industry Association CCIA invoked today in statements A new trade agreement and legislation to change the USs immigration system were some of the options groups pressured the administration to pursue The blunt tool of tariffs will harm American consumers and industries, and risks the full realization of the benefits of a modern trade agreement that brings the North American market into the 21st century, CCIA president and CEO Ed Black said Command Line delivers daily updates from the near future

Source: Youtube

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