10/23/2019 | Press release | Distributed by Public on 10/22/2019 14:53
October 23, 2019 - Almost 90 percent of U.S. electronics manufacturers are troubled by the higher tariffs imposed by the United States and China on each other's imports, and some are investing less in the United States and hiring fewer workers as a result.
These are among the results of a survey conducted by IPC, a global association representing the electronics manufacturing industry, which queried its U.S. members between September 25 and October 2, 2019. Among the survey results:
'As the IPC research documents, rising tariffs are putting a painful squeeze on many U.S. electronics manufacturers,' said IPC Chief Economist Shawn DuBravac. 'Many are facing supply-chain disruptions and steeper costs from the tariffs that have been imposed to date, and the impacts will grow as the trade war drags on.'
'Our industry has longstanding concerns about some of China's industrial policies, including government subsidies and intellectual property violations,' said IPC President and CEO John Mitchell. 'But addressing unfair trade practices by ratcheting up tariffs is like using a sledgehammer to make orange juice. In both cases, it's the wrong tool and makes a mess of the job.'
'We call on the governments of the United States and China to de-escalate the tariffs, focus on results at the negotiating table, and conclude agreements that address long-standing issues of concern to both sides,' Mitchell added. 'We also call on all members of the World Trade Organization to restore that body's ability to play its role as arbiter of international trade disputes, so that nations won't feel a need to resort to tariffs to resolve trade disputes,' Mitchell said.
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