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Business - Reclaiming Congressional Trade Authority Act Will Protect U.S. Consumers from Trade War

 

 

 

 

Hundreds of American businesses recently came to Washington to testify against tariffs. That’s because U.S. businesses and consumers – not China – are paying these tariffs. We agree that China’s unfair trade practices must be stopped, but tariffs are not the solution

 

ARLINGTON, Va.. USA --- (BUSINESS WIRE)

Tuesday, July 02, 2019

The following statement is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA), regarding the House introduction of the Reclaiming Congressional Trade Authority Act of 2019 by Rep. Stephanie Murphy (D-FL):

“Hundreds of American businesses recently came to Washington to testify against tariffs. That’s because U.S. businesses and consumers – not China – are paying these tariffs. We agree that China’s unfair trade practices must be stopped, but tariffs are not the solution.

“The Reclaiming Congressional Trade Authority Act makes it clear that Congress has exclusive Constitutional authority to impose tariffs and has only delegated such power to the Executive branch in limited circumstances. This critical bill will protect Americans from being crushed by continuously increasing, costly tariffs.

“The U.S. tech industry is already paying about $1 billion more per month on Chinese imports due to tariffs. As this trade war drags on, American families will pay higher costs and U.S. businesses will face growing uncertainty. Congress should take up and pass this bill quickly to reassert the checks and balances that protect America’s small businesses and families from being collateral damage in an escalating trade conflict.”

Consumer Technology Association (CTA) is the trade association representing the $398 billion U.S. consumer technology industry, which supports more than 18 million U.S. jobs. More than 2,200 companies – 80 percent are small businesses and startups; others are among the world’s best-known brands – enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES – the world’s gathering place for all who thrive on the business of consumer technologies. Profits from CES are reinvested into CTA’s industry services.

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