Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, submitted comments to the United States Trade Representative (USTR) on the possible extension of certain product exclusions from the tariffs levied on imports from China under Section 301 of the Trade Act of 1974. The following statement can be attributed to TechNet President and CEO Linda Moore:

“Tariffs impede economic growth, job creation, innovation, and U.S. global competitiveness. The harmful tariffs on goods imported from China have cost American companies $207.24 billion since their inception in 2018. This has caused tremendous uncertainty and turmoil for American importers, especially small and medium-sized businesses, and hurt U.S. innovation and our global leadership.

“While we appreciate the USTR’s interest in extending tariff relief, particularly on products needed to power critical and emerging technologies, the tariffs should be removed altogether. Instead, the U.S. should double down on efforts to curb China’s discriminatory practices by leveraging the support and engagement of our international partners and allies and minimizing supply chain disruptions that could harm American innovation and leadership, such as the Section 301 tariffs.”

You can read our comments here.