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WTO reached a tentative agreement: More IT product tariffs will be reduced

  • Author:selectech
  • Source:www.electronic-supplier.com
  • Release on:2015-07-21
Beijing July 20, according to Reuters, the World Trade Organization (WTO) negotiators agreed over the weekend to expand the number of IT to reduce tariffs on the list.

Negotiating parties, he said 54 countries had reached a provisional agreement, approximately 200 kinds of IT products added to the list of tariff reductions. WTO said late on Saturday, IT products trade value in the list has reached $ 1 trillion. The United States, China, Japan and other WTO members have been meeting with consultations in Geneva, seeking to complete the final details before Friday's Information Technology Agreement.

US Trade Representative Michael Fuluo Man (Michael Froman) will be called the agreement a "major breakthrough" made in the negotiations. WTO Director-General Roberto Azevedo (Roberto Azevedo) are published tweets said the interim agreement was to reach a final agreement laid the foundation, and he reached a final agreement before the end of this week was "very optimistic."   
On the list of covered products include semiconductors, magnetic resonance imaging device, a global positioning system device, speakers, and video game consoles. Semiconductor Industry Association expects the agreement will enhance the global GDP of about $ 190 billion annually. Semiconductor Industry Association said that, for now, can not achieve zero-tariff products immediately, negotiators should also draw up a timetable for phasing out tariffs on these products.

WTO negotiators are these consultations were held in July 14 to 18, it is expected to sign the agreement to their respective governments before Friday