WASHINGTON — Dozens of countries have agreed to abolish duties on more than 200 technology products — from advanced computer chips to GPS devices, printer cartridges and video game consoles.
The agreement, announced Friday, marks the World Trade Organization’s first tariff-killing deal in 18 years.
The deal is an expansion of the 1997 Information Technology Agreement.
“Today’s agreement is a landmark,” said WTO director-general Roberto Azevedo. “Annual trade in these 201 products is valued at over $1.3 trillion per year, and accounts for approximately 7 percent of total global trade today. This is larger than global trade in automotive products — or trade in textiles, clothing, iron and steel combined.”
Not all 161 member countries signed on to the deal; 49 did. But all will benefit because it cuts tariffs on tech products, no matter which WTO country they come from.
