The WTO sealed a deal to cut a billion dollars in tariffs on products of information technology, which will represent a boost to producers of goods ranging from video games to medical equipment.
Members of the World Trade Organization (WTO) sealed Friday July 24 an agreement to cut a billion dollars in tariffs on products of information technology, which will represent an boost to producers of goods ranging from video games to medical equipment.
The decision to upgrade the Agreement on Information Technology (ITA), in force for 18 years, WTO adds more than 200 goods to the list of products that operate duty-free.
The Trade Representative United States said more than 100,000 million dollars in exports of their country would be covered by the settlement date and that industry estimates show the elimination of tariffs could support the creation of up to 60,000 additional jobs.
“The expansion of ATI’s great news for American workers and businesses that design, manufacture and export cutting-edge technology generation and computer products ranging from MRI machines to semiconductor and game consoles, “said US Trade Representative Michael Froman.
technology manufacturers such as General Electric Co., Intel Corporation, Texas Instruments Inc, Microsoft Corp. and Nintendo Co. are among companies that will benefit from the agreement.
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