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Importers paid $32 bln in U.S. tariffs on China tech imports-industry report


WASHINGTON, July 19 (Reuters) - Importers of technology products from China paid over $32 billion worth of tariffs imposed by President Donald Trump between mid-2018 to the end of 2021, a new trade group report showed on Tuesday as the Biden administration continues to deliberate over whether to remove some duties.


The Consumer Technology Association said in the report that the tech industry has reduced its dependence on China in the wake of the tariffs, but this has been offset by increased imports from Vietnam, Taiwan, South Korea, Malaysia and other countries.


Roughly half of the $32 billion in tariffs were paid on Chinese-produced computers and electronic products, CTA said. Total "Section 301" tariffs paid on Chinese goods through July 13 totaled $145.43 billion, according to Customs and Border Protection data.


The report comes as the Biden administration is trying to determine whether to remove some of the tariffs as a way to provide American consumers relief from high inflation, which remained low during the first two years that the tariffs were imposed.


Ed Brzytwa, CTA's vice president of international trade, said in a statement that the tariffs were hurting U.S. businesses, not solving China trade challenges.


"With rising prices across all sectors of our economy, removing tariffs would mitigate rampant and harmful inflation and lower costs for Americans," he said.


CTA's review of import trends since the tariffs were first imposed in phases in mid-2018 show that imports of Chinese tech goods hit by Section 301 tariffs fell by 39% over the next three and a half years, while those not affected grew by 35%.


Read More at https://www.reuters.com/business/importers-paid-32-bln-us-tariffs-china-tech-imports-industry-report-2022-07-20/




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