IBM Seeks Global Trade Accord as Nvidia Worries About Tariffs
IBM seeks “plurilateral agreement among the world’s largest economies” to curb China’s allegedly unfair trade practices, commented the company in docket USTR-2018-0026 in opposition to the proposed third tranche of duties. Such global agreement with China’s “largest trade and investment…
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partners” could help “establish broad new norms,” it said. The EU and Japan “would be logical, willing partners,” it said. Though Nvidia doesn't make graphics processing units in China, some of its “platforms and cards” are assembled there, and “third-party resellers and partners” import them to the U.S., it commented. Those goods are targeted for tariffs of up to 25 percent, “even though the vast majority of their value derives from [U.S.] engineering work," Nvidia said. It’s “working diligently” with those partners “to mitigate possible negative impacts,” it said. “That work will not be completed before the anticipated time” the third tranche takes effect, so it’s asking that those products be exempted. Other tech interests also are concerned about levies over intellectual property disagreements between the countries (see 1809100056).