HKTDC Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
SUBSCRIBE
  • EVENTS
  • MY FEED
  • CONTACT HKTDC
  • ABOUT HKTDC
  • hktdc.com

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research
  • Login / Register

Languages

  • EN
  • 繁
  • 简
SUBSCRIBE
Hong Kong Means Business

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

https://hkmb.hktdc.com/en/1X0AHIJZ

hktdc research
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

Technology Industry Association Voices Concern about U.S. Trade Policies

28 May 2019

CompTIA, the technology industry trade association, indicated in its recently released Tech Trade Snapshot 2019 that U.S. technology exports totalled some US$340 billion last year, directly supporting nearly 860,000 jobs. The report also looked at U.S. state-level exports and employment in technology goods and services to emphasise to readers the importance of this sector for U.S. economic development and employment.

CompTIA included an analysis of the U.S. technology deficit with mainland China, emphasising the complex nature of many of these transactions. The association reported that U.S. technology product exports to the mainland increased by 4.9 percent to US$17.9 billion in 2018, while U.S. companies exported US$2.2 billion worth of technology services to the mainland in 2017. These exports were dwarfed by U.S. imports of US$187.7 billion in technology products and services from the mainland in 2017. Hong Kong was a described as a “notable newcomer” for its rise to tenth position in the U.S. technology services export rankings.

CompTIA also sought to describe the complicated value-added calculations that could more accurately reflect corporate earnings and commercial realities, quoting the research consultancy HIS Market’s estimate that mainland Chinese assembly facilities receive just three to six percent of the manufacturing cost of an iPhone. The report also quoted Louis Kuijs, head of Asia economics research at Oxford Economics, as saying that “if trade deficits were measured to account for the complex nature of global supply chains for products such as smartphones, the U.S.-China trade deficit would be about 36 percent lower.”

In a press release accompanying the report, CompTIA expressed concern about current U.S. trade policies affecting the technology sector. Since high-tech products have typically been subject to very low tariff rates in the United States, with many products entering duty-free under the WTO Information Technology Agreement, the imposition of a 25 percent additional tariff on certain products under Section 301 constitutes a huge tariff increase. The U.S.-mainland China trade dispute “resulted in tariffs on tech product imports increasing fivefold from 2017 to 2018,” Stefanie Holland, CompTIA's vice president for federal and global policy, said in a statement. “Should a 25 percent tariff rate apply to all tech product imports the costs could run into the tens of billions of dollars,” she added. Accordingly, CompTIA urged the U.S. government to work towards a deal that protects American innovation and intellectual property while avoiding the imposition of additional tariffs on imports of high-tech products into the United States.

BACK TO TOP ^
CONTENT PROVIDED BY
    Topics:
  • Technology,
  • USA,
  • North America,
  • Mainland China,
  • Technology Exports,
  • Export Control,
  • Section 301,
  • trade dispute,
  • protectionism,
  • customs & tariffs & duties
  • Technology
  • USA
  • North America
  • Mainland China
Home

Article Topics

ARTICLE TOPICS

TECHNOLOGY24757
USA36116
NORTH AMERICA36097
MAINLAND CHINA35607
TECHNOLOGY EXPORTS136266

ARTICLE TOPICS

TECHNOLOGY24757
USA36116
NORTH AMERICA36097
MAINLAND CHINA35607
TECHNOLOGY EXPORTS136266
EXPORT CONTROL115033
SECTION 301130769
TRADE DISPUTE76304
PROTECTIONISM74995
CUSTOMS & TARIFFS & DUTIES74631

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

interest_article

YOU MAY BE INTERESTED IN

26 February 2021

Lawmakers Introduce Various Bills Aimed at Mainland China

19 February 2021

No Section 301 Tariffs on Low-Value Shipments for Now

27 January 2021

U.S. Rejects Hong Kong’s First Panel Request in WTO Dispute Involving “Made in China” Marking Requirement

18 January 2021

Sanctions Imposed on Mainland Chinese Oil and Graphite Electrode Companies

Related Events

RELATED EVENTS

13 - 16 October 2021

electronicAsia 2021

13 - 16 October 2021

HKTDC Hong Kong Electronics Fair 2021 (Autumn Edition)

13 - 16 October 2021

HKTDC International ICT Expo 2021

13 - 16 April 2022

HKTDC Hong Kong Electronics Fair (Spring Edition) 2022
FIND AN EVENT

User login

  • Create new account
  • Request new password

Footer Menu

  • hktdc.com
  • ABOUT HKTDC
  • MEDIA ROOM
  • TERMS OF USE
  • PRIVACY POLICY
  • SITEMAP
  • 京ICP备09059244号

Footer Logo

Copyrights

Copyright © 2021 Hong Kong Trade Development Council. All rights reserved.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.