United States and other countries in July is expected to achieve zero tariffs on IT products

According to Reuters reports, China, the United States, the European Union and more than 20 countries are expected to being the World Trade Organization (WTO) negotiations on the Information Technology Agreement, the Agreement was signed 16 years ago, at the convention between countries and regions for a range of technology products tariffs within the next two months, this agreement is expected to be canceled, which means the $ 4 trillion in covering dozens of countries in the United States and Europe is no longer technology products trade tariffs. According to the U.S. Information Technology Industry Association senior vice president John Neuffer, said an agreement before the end of the seven optimism. The agreement involved a total of 75 countries, although the number of States Parties only WTO 159 member countries 50%, but 75 countries worldwide technology products trade volume accounted for 97% of trade in such products. 16 years ago, the WTO Information Technology Agreement covering the $ 4 trillion technology products trade, the new agreement is reached coverage will increase by $ 800 billion trade volume. Elimination of tariffs of products including PC, laptop, telephone, fax, applications, semiconductor chips, etc., whether the panel will eliminate tariffs, the EU and the United States took the opposite approach, the EU has imposed 14% of the panel tariff.
If technology products will achieve zero tariffs have a tremendous impact on the overall market, for consumers, will be able to lower prices enough to buy overseas vendors. Enhance consumer demand will stimulate market competition, the zero tariff agreement for the technology companies reduce costs, the main advantage of cheap strategic vendors will be weakened, some technical strength, companies with high product differentiation in the competition.