January 27, 2017

WASHINGTON – The Information Technology Industry Council (ITI), the global voice of the tech sector, welcomed today’s discussions between U.K. Prime Minister Theresa May and U.S. President Donald Trump regarding deepening economic engagement, including the possibility of a bilateral trade agreement. ITI offers its support and collaboration as the two governments pursue their discussions.

“The United Kingdom and United States have an important opportunity to enhance an already indispensable alliance, stimulate economic growth and job creation, and help ensure that all parts of our societies benefit from innovation and technology,” said ITI President and CEO Dean Garfield. “Technology is increasingly the central pillar for economic growth and social progress and it should be the foundation for deepening the trade relationship between our nations just as it is with our European partners and the rest of the world.”

Recent research suggests that some 75 percent of the economic gains created by cross-border flows of digital information accrue to businesses outside of the tech sector. To build on and accelerate those gains, ITI believes a bilateral trade agreement should contain a number of key elements, including:

  • eliminating tariffs and minimizing “red tape” at the border, to enable manufacturers to export more cost-effectively;
  • allowing data to flow freely across borders to support businesses and workers in all sectors;
  • ensuring that services providers can compete fully in each others’ markets;
  • protecting innovators’ intellectual property rights; and
  • promoting a free and open internet to expand opportunities and reinforce shared values.

Garfield noted that technology is playing a beneficial role in breaking down old barriers to enable fresh economic growth and job creation across all industries, including small businesses and aspiring entrepreneurs. He offered the tech industry's support to work with President Trump and Prime Minister May in pursuing a positive and inclusive agenda fully leveraging innovation to benefit all of their citizens as the leaders seek address the social and economic challenges the two countries face.

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Public Policy Tags: Trade & Investment