WASHINGTON, D.C. – Today, House Ways and Means Chairman Kevin Brady (R-TX) released the following statement regarding today’s entry into force of the expanded Information Technology Agreement (ITA). The expanded ITA updates the 1996 agreement, which eliminated tariffs for information technology products under the auspices of the World Trade Organization. The agreement adds new IT products not contemplated or manufactured in the late 1990s.
“I’m pleased that the expanded Information Technology Agreement goes into effect today. All countries should promptly implement their obligations so that American families and workers will quickly benefit from this important agreement.
“By reducing the tariffs – essentially taxes – that we face when we try to sell U.S.-made products abroad, this agreement will ensure that ‘Made in the U.S.A.’ products are even more attractive to the 95 percent of the world’s consumers who live outside of our borders. Americans should also expect to pay less for imported products they buy – like printer ink cartridges, LCD televisions, touch screens, and video games.
“And the ITA is also expected to create 60,000 jobs here in the United States.
“This agreement is more proof that trade agreements, done right, can strengthen our economy and improve the lives of ordinary Americans.”