Washington — The Computer & Communications Industry Association calls on U.S. officials to use the upcoming Group of 20 Summit to improve relations and reduce tensions with trade partners. Leaders of the world’s biggest economies will be meeting Friday and Saturday in Argentina to discuss a range of economic issues.
Officials should take heed of warnings and concerns expressed by many on the impact of current trade tensions. Ahead of the meeting, the International Monetary Fund’s chairwoman, Christine Lagarde, warned that rising trade tensions and escalating tariffs could hurt the global economy. In its most recent economic outlook, the OECD likewise observed that the ongoing U.S.-China trade tensions will negatively impact global growth. Americans For Free Trade, a coalition of which CCIA is a member, sent a letter to the Administration earlier this week outlining the impacts the tariffs have already had on a diverse set of American companies, and encouraging positive outcomes at the upcoming summit.
The following can be attributed to CCIA President & CEO Ed Black:
“This face to face meeting is an opportunity to de-escalate tensions with our various allies and trading partners. US companies are getting caught in the crossfire escalating tariffs with China, and facing increasingly common digital trade barriers. The timing is critical and the U.S. is poised to raise tariff levels at the start of 2019. This summit is an opportunity for leaders to discuss a wide range of global problems and solutions — and we hope US officials use it.”