International trade negotiators and heads of governments appear to have reached a breakthrough in efforts to expand the WTO’s Information Technology Agreement, which eliminates tariffs on high-tech products among 54 economies, including the U.S. and China.
A deal between the U.S. and China reached this week in Beijing is expected to pave the way for continued ITA negotiations in Geneva.
The Office of the U.S. Trade Representative said many of the products that would see tariff elimination under an expanded ITA are in key U.S. industries, including next generation semiconductors, which would see current tariffs of up to 25 percent reduced to zero.
