China-US Trade Frictions: Tariffs dominate discussions at International Manufacturing Tech Show
Updated 10:50, 18-Sep-2018
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As the US still considers raising duties on 200 billion dollars worth of Chinese goods. Tariffs are dominating discussion at the International Manufacturing Technology Show in Chicago. Buyers and sellers are concerned their gains could be wiped out - if international tariffs remain in place. CGTN's Dan Williams reports.
This year's International Manufacturing Technology Show is a display of strength for the manufacturing industry.
More than 24-hundred exhibitors many demonstrating the latest in hi-tech machinery.
But this year's event takes place against a backdrop of various international tariffs and retaliatory tariffs that threaten to undermine some sectors of the industry.
TIM SHINBARA ASSOCIATION FOR MANUFACTURING TECHNOLOGY "The closer we can get to the resolution, the better people can understand their investment path. There are certain companies who manufacture off the United States shores but that is because their customers are off the United States shores. So there are a few folks who will feel the tariffs. We hope that alongside them, the reconciliation is clear and quick as no one can plan in uncertainty."
Large lines form at the Hurco stand as visitors wait for a solid model of their head, generated by a 3D scanner.
The company has been around for 50 years officials are keeping a close eye on the tariff dispute.
PAUL GRAY HURCO PATH PLANNING MANAGER "This uncertainty is definitely no one in the market will want. And we would like to see that calm down a little bit and make sure we have smooth sailing and consistent growth."
DAN WILLIAMS CHICAGO "This event attracts exhibitors from across the globe. And although many of the companies here are enjoying a successful year when it comes to trade, concern over tariffs remain."
Harry Moser was among those to deliver a keynote speech.
He's the founder of the 'Reshoring Initiative', a non-profit that aims to increase manufacturing jobs in the U.S..
HARRY MOSER 'RESHORING INITIATIVE' "We believe there are 10 or 20 policies that are more effective than tariffs. The steel and aluminum tariffs especially are unproductive as because they help steel producers, they hurt steel users. So we recommend absolutely a better skilled workforce, A value added tax like almost all the other countries makes a 15 percent difference. And Bam. We're competitive."
Organizers of this event have enjoyed a record attendance. But if the tariffs remain in place, things could look a lot different when the next event is held in two years. Dan Williams, CGTN, Chicago.