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TIA Applauds Deal to Remove Trade Barriers for High-Tech Products
Arlington, VA (July 20, 2015) - The Telecommunications Industry Association (TIA), the leading association representing the manufacturers and suppliers of high-tech communications networks, today applauded negotiators for reaching a World Trade Organization tariff agreement to remove trade barriers for more than 200 types of high-tech products.
The updated Information Technology Agreement (ITA), brokered by the U.S. and the World Trade Organization, removes tariffs on roughly $1 trillion of annual global sales of tech products and would add approximately $190 billion annually to global GDP. The agreement is expected to be officially finalized by Friday, July 24.
TIA CEO Scott Belcher released the following statement on the deal:
“By removing tariffs on the next generation of high-tech products, this deal will facilitate $1 trillion in global sales, lower costs and expand the production and trade of innovative technologies. The updated ITA will benefit consumers and businesses alike and is a major victory for the tech sector. We commend the negotiators for their efforts and look forward to the ratification and implementation of the ITA.”
The Telecommunications Industry Association (TIA) represents manufacturers and suppliers of global communications networks through standards development, policy and advocacy, business opportunities, market intelligence, and events and networking. TIA enhances the business environment for broadband, mobile wireless, information technology, networks, cable, satellite and unified communications. Members' products and services empower communications in every industry and market, including healthcare, education, security, public safety, transportation, government, the military, the environment, and entertainment. Visit tiaonline.org for more details.
TIA is accredited by the American National Standards Institute (ANSI), and is a proud sponsor of ANSI’s Standards Boost Business campaign. Visit www.standardsboostbusiness.org for details.