Dennis Slater, President of the Association of Equipment Manufacturers, says his organization is disappointed that the Trump Administration is moving forward with more tariffs on China. Slater said the tariffs target vital parts and components used in equipment manufacturing throughout the U.S.
“They will also drive up the cost of manufacturing in the U.S. and risk many of the 1.3 million good-paying manufacturing jobs our industry supports,” Slater says. “Combining this with China’s promise to retaliate against U.S. products and agricultural commodities only further erodes the benefits of last year’s tax reform, hurting the entire U.S. economy.”
Slater said, while the president is right to address China’s intellectual property theft and unfair trade practices, taxing American citizens won’t fix the problem. Starting today (Friday), U.S. Customs and Border Protection will now collect duties on $34 billion dollars worth of tariffs. An additional $16 billion in more tariffs are said to be in the works.
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