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More than 200 IT items will be tariff free

by on28 July 2015


Prices will drop

A new global trade pact that removes tariffs on more than 200 bits of IT gear mean cheaper prices around the world. 

The tentative deal, struck on Friday at a World Trade Organisation meeting in Geneva, affects a wide variety of devices ranging from smartphones, routers, and ink cartridges to video game consoles and telecommunications satellites.

The import duties will begin to be phased out next year, and removed within three years, the European Commission said. The new deal extends the 1996 Information Technology Pact that removed customs duties on IT gear such as computers, telephones, digital cameras and their parts.

Cecilia Malmström, EU Trade Commissioner, said the deal will cut costs for consumers and business—in particular for smaller firms, which have been hit especially hard by excessive tariffs in the past.

Dubbed the ITA Expansion the deal is being touted as great news workers and businesses that design, make, and export technology and information products.

The US yearly exports $100 billion worth of technology covered by the expanded product list.

With an agreement in place about what gear will be covered, representatives from the joining countries will work out details of the plan at the WTO's 10th Ministerial Conference in Nairobi this December. The WTO hopes the deal will be finalized there, a spokesman said.

The deal will cover WTO members involved in the negotiations included the EU and its 28 countries.

Last modified on 28 July 2015
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