Trade deals wipes out tariffs on more than 200 tech products

FILE - In this Feb. 16, 2010, file photo, a customer looks over Hewlett Packard ink cartridges for his printer at Best Buy in Mountain View, Calif. More than 50 countries in the World Trade Organization have agreed to eliminate tariffs on 200 technology products, including video game consoles, printer cartridges and GPS devices. The expansion of 1997’s Information Technology Agreement is the WTO’s first tariff-killing agreement in 18 years. (AP Photo/Paul Sakuma, File) FILE - In this Feb. 16, 2010, file photo, a customer looks over Hewlett Packard ink cartridges for his printer at Best Buy in Mountain View, Calif. More than 50 countries in the World Trade Organization have agreed to eliminate tariffs on 200 technology products, including video game consoles, printer cartridges and GPS devices. The expansion of 1997’s Information Technology Agreement is the WTO’s first tariff-killing agreement in 18 years. (AP Photo/Paul Sakuma, File)

By Associated Press July 24, 2015 2 min read

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.

U.S. Trade Rep. Michael Froman called the agreement “great news for the American works and businesses that design manufacture and export state-of-the-art technology and information products.” Froman’s office says the deal will support 60,000 American jobs.