U.S. Chamber, USCIB Support Newly Completed ITA Expansion
Industry groups praised expansion of the Information Technology Agreement, following a deal reached Dec. 16 in Nairobi that will eliminate tariffs on a wide range of IT products and services. The U.S. Chamber of Commerce noted that it met with…
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negotiators from dozens of countries in Geneva for more than two years and with officials in foreign capitals. “The news that one of the world’s most successful trade agreements will be expanded significantly will provide good cheer for American companies and the workers they employ,” chamber Executive Vice President Myron Brilliant said in a statement. “This huge tax cut is good news for consumers and should spur growth in one of the world economy’s most dynamic sectors.” The United States Council for International Business also lauded the agreement, as well as U.S. Trade Representative Michael Froman for his "determination" in reaching the deal. “This market-opening agreement holds vast potential to boost U.S. exports and lower the costs of doing business for companies of all sizes,” USCIB CEO Peter Robinson said. “All businesses use ICTs, and dropping barriers on high tech products will contribute to global growth, jobs and sustainable development.”