By SEMA Washington, D.C., Staff
SEMA submitted comments to the U.S. Trade Representative (USTR) recommending removal of the tariffs imposed on goods from China since they have not helped achieve the goal of eliminating China’s unfair practices with respect to technology transfer, intellectual property and innovation. The Section 301 tariffs were imposed more than four years ago and are being reviewed by the USTR to determine whether they should continue, expire or be modified.
Nearly all SEMA members sourcing goods from China have been directly impacted by the 25% tariffs. SEMA observed that the tariffs have had the opposite effect of making U.S. manufacturers less competitive and preventing American companies from growing. They have also increased costs for American consumers and contributed to inflation.
SEMA emphasized that most member companies are small businesses that have tight operating budgets with business models that did not include unexpected tariffs. The ability to absorb or pass along the cost of the tariffs has caused economic strife. Four years later, our companies must still cope with the economic uncertainty as to whether the tariffs will be removed, reduced or extended. There is no deadline for the USTR to complete its review.
For more information, please contact Eric Snyder at firstname.lastname@example.org.