ARLINGTON, Va.--(BUSINESS WIRE)--The following statement is attributed to Sage Chandler, vice president of international trade, Consumer Electronics Association (CEA), regarding today s announcement that over 50 World Trade Organization (WTO) members have agreed to a product list of over 200 items slated for tariff removal as part ofthe Information Technology Agreement (ITA) in their countries:
Today s announcement is a huge step in the right directionfor ITA conclusion at the ministers meeting in Nairobi this December. Consumers around the world will benefit from lower tariffs on products ranging from life-saving medical devices to audio-video (AV). Almost two decades after its implementation, the ITA is in desperate need of an update.
This expanded agreement means the removal of tariffs on more than $100 billion of products manufactured in the U.S. Among the key product sectors involved, tariffs on AV products such as videogame consoles and loudspeakers, as well as solid state drives and next-generation semiconductors, would fall from as high as 30 percent to zero. Additionally, an expanded ITA will support an estimated 60,000 additional jobs in our country.
Theupdated agreement should be finalized as soon as possible to announce the win at December s WTO Nairobi Ministerial, and implemented in July 2016. We urge capitals in Colombia, Mauritius, Taiwan, Thailand and Turkey to address any outstanding concerns and submit their approvals quickly. They are important partners and we would like to have them with us as soon as possible.
The Consumer Electronics Association (CEA) is the technology trade association representing the $286 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative and regulatory advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships.CEA also owns and produces CES The Global Stage for Innovation. All profits from CES are reinvested into CEA s industry services.Find CEA online at CE.org, InnovationMovement.com and through social media: http://www.ce.org/social.
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