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Cisco CEO Warns Higher Tariffs Will Force Companies to Cut R&D

  • Robbins said U.S. companies will be forced to absorb tariffs
  • Cisco spent over $4 billion on research, development in 2017
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Cisco CEO on Tech Industry, Tariffs, Cybersecurity

Cisco Systems Inc. Chief Executive Officer Chuck Robbins cautioned U.S. officials against increasing tariffs on Chinese goods, saying it would come at the expense of American innovation.

U.S. companies will end up absorbing the costs of higher tariffs, spending less on the research and development that can lead to technological breakthroughs, Robbins said during a meeting with government officials in D.C. earlier this month. He told Bloomberg News that he was representing the view of several big U.S. technology companies in addition to his own: Hewlett Packard Enterprise Co., Dell Technologies Inc. and Juniper Networks Inc.