CTA warns that tariffs could lower U.S. consumer purchasing power by $90B to $143B
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Summary
The Consumer Technology Association (CTA) has said that planned tariffs on Canada, Mexico and China will cost US consumers 90bnto143bn.
The industry body additionally said the move will harm US relationships with two of its closest neighbours and trading partners, and damage the wider US economy.
Gary Shapiro, CEO of CTA, which conducted research showing that tech products would become more expensive, added that it would also create a harmful cycle of retaliatory tariffs.
The comments come after the Entertainment Software Association warned of “significant harm” from tariffs on video games earlier this week.