Washington- The Information Technology Industry Council (ITI), the global voice of the tech sector, released the following statement from ITI President and CEO Dean Garfield on the tentative agreement reached today on the World Trade Organization's (WTO) Information Technology Agreement (ITA), which would eliminate some $1 trillion in tariffs on various technology products each year.
“The world could be forgiven for not focusing on Geneva on a summer Saturday, but there is every reason to take note. The progress made today in Geneva on the Information Technology Agreement is potentially seismic. Once completed, ITA expansion will make history, representing the biggest tariff-elimination undertaking achieved by the WTO in nearly two decades.
“We are still one step away from completion of the agreement, but getting here has required real leadership. ITI commends WTO Director-General Roberto Azevêdo, U.S. Trade Representative Michael Froman and U.S. Ambassador and Representative to the WTO Michael Punke for their tireless efforts over the past three years to bring this important agreement, which will open markets and spur economic growth around the world, to the finish line."
Final approval of the tentative ITA agreement is expected on Friday, July 24. The deal could add as much as $190 billion to the global gross domestic product and support some 60,000 U.S. jobs.
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