Market Overview

ATM Industry Association Opposes Trade Tariffs as a Threat to Business

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Comment letter to be filed opposing new tariffs impacting ATMs

ATMIA (the
ATM Industry Association) announced today that it will file a comment
letter
on USTR-2018-0026, which includes HTSUS Code 8472.90.1000,
defined as ATM units. The proposed new tariff of 10% on ATMs
manufactured in China would disproportionately impact small businesses.
A second proposed tariff of 25% on ATM parts and components would have
an even broader impact.

ATMIA supports free trade and elimination of tariffs which thwart free
trade and damage businesses and jobs in sectors adversely affected by
the direct and knock-on effects of tariffs. True competition thrives
when markets are allowed to operate freely with minimal interference
from governments.

ATMIA encourages the Administration of President Trump to suspend the
implementation of these tariffs. ATMIA and its members stand ready to
provide further input on these and other related issues.

"We are concerned that these tariffs, of 10% and 25% respectively, will
have significant adverse economic impacts on ATM manufacturers,
distributors and owners, not to mention businesses reliant on ATMs
further down the value chain," commented Mike Lee, CEO of ATMIA. "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."

Numerous ATMIA members have already requested an opportunity to testify
at the public hearings later this month. All industry stakeholders are
encouraged to file their own comments regarding the potential impact on
their organization. Written comments are due by August 17, 2018 and can
be submitted to the federal register website (www.regulations.gov),
referencing docket ID USTR-2018-0026.

About ATMIA www.atmia.com

ATMIA is the leading non-profit trade association representing the
entire ATM industry. ATMIA serves more than 10,000 members from over 690
participating companies in 70 countries spanning the whole ATM
ecosphere, including financial institutions, independent ATM deployers,
equipment manufacturers, processors and a plethora of ATM service and
value-added solution providers. ATMIA provides educationadvocacy and connections to
help its members keep abreast of industry news and developments;
increase knowledge and professionalism; improve operational
efficiencies; influence regulatory processes; participate in the local,
regional and global ATM community; and forge new relationships to
advance their businesses.

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