NEMA estimates proposed Chinese tariffs at $2.25B, urges alternative measures in testimony
On Tuesday, May 16, the vice president of the National Electrical Manufacturers Association (NEMA) testified in front of an Office of the United States Trade Representative (USTR) committee stating the proposed tariffs on Chinese imports would equate to $2.25 billion in taxes on many of its members, which include medical imaging device manufacturers.
“According to U.S. government trade data, we have estimated the 2017 value of Chinese shipments to U.S.-based electrical and medical imaging manufacturers was approximately $9 billion, or slightly less than a fifth of the entire $50 billion in imports targeted by the proposal,” said NEMA Vice President Government Affairs Kyle Pitsor in his testimony. “If the 25 percent tariffs are implemented as proposed, they would represent a tax increase on U.S. manufacturers and their industrial, commercial, and residential customers valued at about $2.25 billion.”
A number of electrical manufacturers produce their own products in China or source finalized products and components from partners in China to support their domestic operations. The proposed 25 percent tariff on more than 100 product types outlined by the USTR would “materially disadvantage” the 350 electrical equipment and medical imaging manufactures represented by NEMA, according to the statement, and likely affect the more than 360,000 American jobs in the industry.
“U.S. electrical and medical imaging manufacturers support an approach that results in fair and open global markets through the application of clear, binding, and enforceable trade rules and compliance with international norms of intellectual property protection,” Pitsor said. “We urge the Administration to consider and pursue alternative measures to bring about the necessary changes in Beijing that result in free and fair trade in our global marketplace.”
Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.