Building Bridges CEA seeks to strengthen U.S. industry ties to
In late June, the Senate debated, then delayed, its vote on legislation that would impose a 27.5 percent tariff on imported Chinese goods if China didn't let the value of its currency float freely. Then, in July, the Chinese government announced it would end the policy of tying the yuan to the U.S. dollar. Now the yuan will be tied to a number of currencies and will be allowed to float in a trading band of plus or minus 0.3 percent.
CEA's stance is that, for the American consumer, the pros of free trade with China far outweigh the cons. Thibodeaux says everyone in the U.S. CE industry should keep apprised of the U.S.-China trade politics. "What's happening has the potential to impact anybody who is selling consumer electronics and sourcing product from China," he says. "If things get out of control, it has the potential to have a significant impact on our industry."
In addition, with CEA's discussions with Chinese officials and company representatives, Thibodeaux says, "we tried to make them more aware of the political momentum that's rising against them."