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Cut Tariffs on Ink Cartridges

As reported by the telegram.com, President Obama, while visiting Beijing for the Asia-Pacific Economic Cooperation summit, said the U.S. and China have reached an understanding on expanding the Information Technology Agreement (ITA) of 1996. The expansion could end tariffs on $1 trillion in global sales of electronic goods and consumables,printer ink cartridges, video game consoles and other high-tech items.

      The Los Angeles Times noted the tariff on printer ink cartridges, as high as 25%, would be eliminated pending full discussions on ratification expected to take place among World Trade Organization (WTO) members in Geneva in December. Also, chip and medical device industries might benefit the most from the new agreement, according to a statement in the telegram.com.