By PAUL WISEMAN
AP Economics Reporter
WASHINGTON (AP) _ 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, which includes 80 WTO member countries. The updated accord covers products that generate $1 trillion in annual global revenue, including $100 billion a year for American companies.
That worldwide total is equal to global trade in iron, steel, textiles and clothing combined, according to the WTO.
Keep reading for free
You can unsubscribe from the newsletter at any time.
No Comment