Tariffs on Point of Sale Imports Will Hurt Payments Industry, Says ETA
4-12-2018
The following statement is attributed to Jason Oxman, CEO, Electronic Transactions Association (ETA), regarding a letter, signed by ETA and several leading trade association, to the leadership of the House Ways and Means Committee regarding the Trump administrations proposed tariff list:
“President Trump’s proposed list of tariffs on Chinese imports has the potential to directly impact the payments industry since cash registers are on the list, making any point of sale terminal imported from China potentially subject to an additional 25 percent tariff. This is a regressive tax that will directly impact merchants. Additionally, the uncertainty around the process places an added burden on companies and will result in higher prices for consumers everyday products.”
ETA was joined by a variety of trade associations representing U.S. manufacturers, retailers and tech companies expressing their deep concern with the administration’s decision to use tariffs to address China’s unfair trade practices and investment relationship with the United States.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.