CTA Slams New Tariffs

Says Trump administration move will create “race to the bottom”
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The Consumer Technology Association (CTA) was not happy with President Trump's announcement of tariffs on the importation of the aluminum and steel that goes into the consumer products made by its members.

"At a time when the economy is bouncing back — more companies are hiring and paying higher wages — the Trump administration risks reversing its successes with ill-advised tariffs," said CTA president/CEO Gary Shapiro. "Today's action could ultimately cost far more American jobs than it would create, and raise costs on consumer products."

Shapiro urged the president to reconsider the decision.

"The imposition of tariffs will undoubtedly result in previously uninvolved sectors being retaliated against and create a dangerous race to the bottom, which is a threat to our domestic economy and the entire global trading system," said Shapiro.

Watch: Electrolux Halts TN Expansion Amid Trump Tariffs

While the tariffs will be imposed — a 25 percent tariff on steel, a 10 percent tariff on aluminum imports — there are various "national security" carve-outs that will exempt Canada and Mexico, and potentially others on a case-by-case basis from the levies.

There will be more wiggle room as well. "Modification or removal of the tariffs would be possible if alternative means are agreed upon to ensure imports from a country no longer threaten[ing] to impair our national security," the White House said Thursday (March 8).

“President Trump is taking action today to protect both our national security and critical industries to our economy," said Commerce Secretary Wilbur Ross.

See: Hung Out To Dry Twice, Clarksville Stumped By Trump's Tariffs

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