CTA: The US 5G industry has lost $1.2 billion! When will Trump's ultra vires behavior stop?

According to the statistics of the Consumer Technology Association (CTA), since July 2018, the Trump administration’s “301 Act” on the implementation of China’s exports to the United States has cost the United States a total of $12 billion, while the US 5G industry has lost. 1.2 billion US dollars.

CTA has been a staunch opponent of the Trump trade war, and CTA Chairman and CEO Gary Shapiro made a statement on the 301 investigation plan: "President Trump is overpowering trade issues, leading our country Businesses and families are paying for the bill. Now is the time for Congress to strengthen support for US businesses and consumers."

According to the latest data from the CTA, the US consumer technology industry has paid a total of $1.9 billion in tariffs in July this year. Although the import volume has decreased by 38% compared to 2018, the total tariffs are five times that of last year.

There are $143 million in product tariffs related to 5G, including smartphones, routers, gateways and servers. The report pointed out that before Trump provoked a trade war, almost none of the above projects involved tariffs. What's even worse is that in just two months or so, the US has lost $1.2 billion on 5G related products.

This action by the Trump administration has led many industrial manufacturers to consider transferring production sites, but China's rich and cheap labor is irreplaceable.