Proposed import taxes could stymie development of
The tariffs anticipated by President Donald Trump and his administration, those on Chinese imports can lead to a great damage to the flourishing cloud computing industry of the United States, undermining U.S. leadership in this sector and also harming innovation including the healthcare system as well with accordance to the news report from the Information Technology and Innovation Foundation (ITIF), the non-profit tech policy think tank, based in Washington, D.C.
The U.S. may face a competitive disadvantage with the stifling in development of fast-evolving cloud technology by the tariff suggested by the government and will adversely impact consumers and potential patients with accordance to some specific initiatives proposed in the import taxes. And in the case of Cloud tech in the U.S. is anticipated to a competitive disadvantage with an adverse impression on the consumer, says ITIF.
Trump’s desired tariffs pertaining to Chinese imports will actually tuck in the pipeline of key components boosts the innovation. This could have four specific negative consequences on the industry:
• Increased prices on business and consumers using cloud technology;
• Limited jobs and R&D provided for product innovation and dawdled business expansion because cloud providers seek for cost cuts;
• Increase in costs for the provision of cloud services from the U.S. which can ultimately lead other international locations more price beneficial;
• Disruption of global supply chains for the manufacturing of IT supplies.
Slow realization of the scenario is anticipated, with many Americans left feeling the impact of the suggested tariffs regarding loud computing through increased prices, lost jobs, and decrease in the economic opportunity , says the author Caleb Foote, ITIF research assistant. Adding to which he says, “The administration should pursue alternative policy measures with low the cost of key productivity and innovation, enhancing capital goods and services.”