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HLIGHTS South China Business Journal
Washington in Action
C A N T T Ahamber pplauds ew ech rade greement
1 Accord to Slash Tariffs on $1 Trillion in IT Goods
WASHINGTON, D.C.- U.S. Chamber of Commerce “We congratulate U.S. Trade Representative Michael Froman
Executive Vice President and Head of International and officials from other countries who have pushed these
Affairs Myron Brilliant issued the following statement negotiations across the finish line.”
welcoming a deal to expand the product coverage of the World
Trade Organization (WTO) Information Technology Agreement Negotiated among more than 50 countries, the ITA expansion
(ITA): will eliminate tariffs on medical equipment, GPS devices,
video game consoles, computer software, and next generation
“The announcement that one of the world’s most successful semiconductors. The volume of world trade covered is
trade agreements will be expanded significantly is welcome approximately equal to global trade in automotive products and
news for American companies and the workers they employ. It’s three times larger than trade in clothing, according to the WTO.
especially heartening given disappointing economic growth in
many countries. The Chamber has worked for more than two years to build
support for an ambitious expansion of the ITA in delegations
“Negotiated in 1996, the original ITA helped deliver a dizzying to Geneva to meet with negotiators from dozens of countries as
array of innovative technology products to the world. However, well as meetings with officials in foreign capitals.
many products developed over the past two decades fell outside
the ITA’s reach, so expanding its coverage became imperative. The U.S. Chamber of Commerce is the world’s largest business
This new agreement will end tariffs on approximately $1 trillion federation representing the interests of more than 3 million
worth of high-tech products, so its commercial significance is businesses of all sizes, sectors, and regions, as well as state and
obvious. local chambers and industry associations.
2 Tenth Round of Transatlantic Trade Talks Concludes
NEGOTIATORS FROM THE United States and the EU There was a palpable sense of relief that legislatures on both
convened in Brussels for the tenth round of negotiations sides of the Atlantic have successfully addressed TPA and the
for the Transatlantic Trade and Investment Partnership (TTIP). European Parliament resolution relating to TTIP, respectively.
U.S. Chamber Vice President for European Affairs (Washington) On the latter, they downplayed the public spectacle on Investor-
Marjorie Chorlins and Director for European Affairs Garrett State Dispute Settlement (ISDS) and underscored that, despite
Workman travelled to Brussels during the talks to meet with the disorder, the Parliament did reaffirm its support for TTIP.
the negotiating teams and senior officials from the offices of The Chamber used these meetings to urge negotiators to
several Commissioners, including Vice President Mogherini capitalize on the recent show of legislative support to make
(Foreign Affairs), Vice President Ansip (Digital Single Market), substantive progress in the weeks and months ahead. The next
Vice President Sefcovic (Energy Union), and Commissioner round is expected to take place the week of October 19 in Miami,
Bienkowska (Internal Market and SMEs). All stressed the Florida.
Commission’s across the board commitment to getting TTIP
done and preferably quickly.
12
Washington in Action
C A N T T Ahamber pplauds ew ech rade greement
1 Accord to Slash Tariffs on $1 Trillion in IT Goods
WASHINGTON, D.C.- U.S. Chamber of Commerce “We congratulate U.S. Trade Representative Michael Froman
Executive Vice President and Head of International and officials from other countries who have pushed these
Affairs Myron Brilliant issued the following statement negotiations across the finish line.”
welcoming a deal to expand the product coverage of the World
Trade Organization (WTO) Information Technology Agreement Negotiated among more than 50 countries, the ITA expansion
(ITA): will eliminate tariffs on medical equipment, GPS devices,
video game consoles, computer software, and next generation
“The announcement that one of the world’s most successful semiconductors. The volume of world trade covered is
trade agreements will be expanded significantly is welcome approximately equal to global trade in automotive products and
news for American companies and the workers they employ. It’s three times larger than trade in clothing, according to the WTO.
especially heartening given disappointing economic growth in
many countries. The Chamber has worked for more than two years to build
support for an ambitious expansion of the ITA in delegations
“Negotiated in 1996, the original ITA helped deliver a dizzying to Geneva to meet with negotiators from dozens of countries as
array of innovative technology products to the world. However, well as meetings with officials in foreign capitals.
many products developed over the past two decades fell outside
the ITA’s reach, so expanding its coverage became imperative. The U.S. Chamber of Commerce is the world’s largest business
This new agreement will end tariffs on approximately $1 trillion federation representing the interests of more than 3 million
worth of high-tech products, so its commercial significance is businesses of all sizes, sectors, and regions, as well as state and
obvious. local chambers and industry associations.
2 Tenth Round of Transatlantic Trade Talks Concludes
NEGOTIATORS FROM THE United States and the EU There was a palpable sense of relief that legislatures on both
convened in Brussels for the tenth round of negotiations sides of the Atlantic have successfully addressed TPA and the
for the Transatlantic Trade and Investment Partnership (TTIP). European Parliament resolution relating to TTIP, respectively.
U.S. Chamber Vice President for European Affairs (Washington) On the latter, they downplayed the public spectacle on Investor-
Marjorie Chorlins and Director for European Affairs Garrett State Dispute Settlement (ISDS) and underscored that, despite
Workman travelled to Brussels during the talks to meet with the disorder, the Parliament did reaffirm its support for TTIP.
the negotiating teams and senior officials from the offices of The Chamber used these meetings to urge negotiators to
several Commissioners, including Vice President Mogherini capitalize on the recent show of legislative support to make
(Foreign Affairs), Vice President Ansip (Digital Single Market), substantive progress in the weeks and months ahead. The next
Vice President Sefcovic (Energy Union), and Commissioner round is expected to take place the week of October 19 in Miami,
Bienkowska (Internal Market and SMEs). All stressed the Florida.
Commission’s across the board commitment to getting TTIP
done and preferably quickly.
12
