Tech blasts Trump tariffs on Mexico
The Consumer Technology Association (CTA), the largest tech lobbying association by member count, on Friday slammed President Trump’s new tariffs on Mexico, saying they are “potentially devastating” to the technology sector.
CTA has been lobbying against Trump’s tariff policies for months, warning that they could force tech companies to raise the price of their products or severely harm their bottom lines.
On Friday, CTA argued that Mexico is vital to the consumer technology industry and any retaliatory tariffs could ravage the trade partnership.
“Mexico is not only one of our top trading partners, it’s the number one export market for American consumer technology sector products,” Gary Shapiro, CTA’s president and CEO, said in a statement.
“‘If Mexico reciprocates with tariffs of its own, our country’s employers and workers will end up paying twice over for the administration’s misguided trade policies,” Shapiro added.
Trump late on Thursday announced he would impose tariffs on Mexico to pressure the country into staving off the flow of migrants into the U.S. through the southern border. The president said the U.S. will impose a 5 percent tariff on “all goods” coming into the U.S. from Mexico starting June 10.
The White House distributed a statement saying that tariffs would increase by 5 percent each month until they reach 25 percent “unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory.”