U.S. Trade Representative Michael Froman announced the intent of the Obama Administration’s intent to enter into negotiations on a new trade agreement in the World Trade Organization that would eliminate tariffs on a variety of environmental goods.
Joining the U.S. are fellow WTO members Australia, Canada, China, Costa Rica, the E.U., Hong Kong, Japan, Korea, New Zealand, Norway, Singapore, Switzerland and Chinese Taipei.
Agreement Will Support Green Jobs in the U.S.
“An agreement on environmental goods can make an important contribution to the domestic and international environmental protection agenda. By eliminating tariffs on the environmental technologies we need to keep our air and water clean, for example, we can make them cheaper and more accessible to everyone,” wrote Ambassador Froman. “American companies are some of the world’s leading innovators and exporters of environmental technologies, and a WTO environmental goods agreement can support green jobs here at home and level the playing field abroad for U.S. businesses.”
In 2013, the nation exported $106 billion of environmental goods, including solar panels, wind turbines and wastewater treatment technologies. Globally, trade in environmental goods is estimated at nearly $1 trillion annually, and tariffs on these goods can be as high as 35 percent.
Learn more about importing and exporting environmental goods by contacting Walker World Trade.