ITA: import levies on high-tech products EU mostly gone by July 1, 2016

Jun

17

2016

The European Parliament has approved the expansion of the Information Technology Agreement of the World Trade Organization. This means that a large number of electronic products for consumer and business no import duties have to be paid more.

With the agreement that gave the EP June 8, the agreement, also known as Information Technology Agreement, or ITA, back at the time. The old treaty dates back to 1996 and was once “in the margins” of a former WTO summit in Singapore created, wrote the NRC Handelsblad in December of that year.

The agreement, which takes effect by July 1, 2016, makes about half of the products mentioned no import tax to be paid more in the agreement. For a large part of the other products in the ITA applies that import duty is gradually reduced over a period of three years. For certain sensitive products a period of seven years.

On the 1996 list were quite a few IT-related products, such as computers, telecommunications equipment, semiconductors and related products, but these products are still only account for around 10 percent of total global trade in electronics, writes Lexology.

Fifty WTO members, including the United States and China negotiated in Nairobi at a conference in December 2015 about the new ITA 201 products which adds to the agreement. It is estimated that it involves “eliminating tariffs on new technology products” with a market value of more than $ 1.3 trillion a year.

To ratify the treaty, was a ‘critical mass’ necessary , including the European Union. After the agreement of June 8 this year, the Convention on 1 July.

Certain products are excluded, such as LED screens and lithium-ion batteries. Even products that are specifically designed for cars, such as radio for car, GPS navigation and touch screens for car, are excluded. The entire list can be found on the USTR website.

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