The U.S. and 13 World Trade Organization members have committed to advance free trade of environmental goods to make green technologies more affordable.
On January 24, 2014, the U.S. and 13 World Trade Organization (WTO) members – Australia, Canada, China, Costa Rica, the European Union, Hong Kong, Japan, Korea, New Zealand, Norway, Singapore, Switzerland, and Chinese Taipei – issued a joint statement announcing a new initiative to cut tariffs on environmental goods. The initiative, announced by U.S. Trade Representative (USTR) Michael Froman at the World Economic Forum in Davos, Switzerland, will build on the Asia Pacific Economic Cooperation (APEC) Leaders’ commitment – led by the U.S. at the 2011 and 2012 APEC forums – to reduce tariffs on a list of 54 environmental goods to five percent or less by 2015. It will also support U.S.-led efforts to eliminate trade barriers to environmental services, such as pollution monitoring and hazardous waste treatment, under the Trade in Services Agreement.
U.S. Exports of Environmental Goods (newenergynews.blogspot)
According to USTR, the 14 WTO members participating in the free trade initiative account for approximately 86 percent of global trade of environmental goods, such as solar water heaters, wind turbines, and catalytic converters. Annual environmental goods global trade amounts to approximately $955B, with trade tariffs reaching up to 35 percent. USDR will work with stakeholders including Congress, businesses, and environmental communities to advance U.S. environmental objectives and foster economic growth.
The joint statement calls for an environmental goods agreement structure to bolster the rules-based multilateral trading system, thereby supporting trade liberalization. It also anticipates the WTO effort to augment the international environmental protection agenda, including the United Nations Framework Convention on Climate Change negotiations.
January 27, 2014 via Energy Solutions Forum.
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