China Economic Review

US tech firms make last-ditch bid for tariff exemptions

Leading US tech corporations have appealed to the Trump administration for exemptions from its proposed move to apply further sanctions on $200 billion of Chinese imports as early as this week, the Nikkei Asian Review writes.

A letter directed to US Trade Representative Robert Lighthizer, which included Dell, Hewlett Packard, and Cisco among its signatories, said networking and hardware products should be excluded from the tariff package.

“If USTR were to impose a 10-25% additional duty on networking products and accessories, it would cause broad, disproportionate economic harm to US interests, including our companies and US workers, our customers, US consumers, and broader US economic and strategic priorities,” the letter said.

The measures could lead to US companies “losing market share to foreign competitors in third-country markets,” the letter went on, and ultimately “hiring freezes, stagnant wages, and even job losses, as well as harm to investors such as reduced dividends and erosion of shareholder value.”