News

ATMIA petitions US Trade Rep to suspend proposed ATM tariffs

August 13, 2018

The ATM Industry Association has announced its intention to file a comment letter opposing the implementation by the Trump administration of new tariffs on ATMs and ATM parts manufactured in China.

According to the association, the proposed tariff of 10 percent on ATMs would disproportionately impact small businesses, and thea proposed tariff of 25 percent on ATM parts and components would have an even broader impact.

"We are concerned that these tariffs … will have significant adverse economic impacts on ATM manufacturers, distributors and owners, not to mention businesses reliant on ATMs further down the value chain," ATMIA CEO Mike Lee said in a press release. "We believe that increased ATM costs at this time could end up getting passed down in a chain reaction to hard-hit consumers. Given the critical role of ATMs in today's consumer economy, these tariffs are considered unwise."

According to the release, several ATMIA members have requested the opportunity to testify at public hearings related to the issue later this month. 

ATMIA is encouraging all industry stakeholders to file their own comments regarding the potential impact of the tariffs on their organization. 

Written comments are due by August 17, 2018 and can be submitted at the Federal Register website, referencing docket ID USTR-2018-0026, which includes HTSUS Code 8472.90.1000, defined as ATM units.