The trade standoff between China and the U.S. may be punishing hard-working Americans across the country instead of the Chinese, says one tech sector executive.
“Tariffs result in higher prices on the component of goods which gets passed on to consumers,” Dean Garfield, president and CEO of the Information Technology Industry Council (ITI) told FOX Business’ Liz Claman on Monday.
He is urging President Trump to not rush into a trade war without a clear game plan.
“Tariffs don’t work and they are an attack on the American people,” he said.
The ITI CEO said the Trump administration has gained leverage with China, but has failed to partner in a multilateral effort with Congress and U.S. allies around the world.
“Congress is moving forward legislation that would regulate how investments occur in China rather than acting unilaterally. We encourage the president to follow Congress’ lead,” Garfield said.