All your consumer tech gear should be cheaper come July: that's the end-date for import tariffs

A new trade deal will exempt IT-related products worth $1.3 trillion annually from import tariffs

In a move meant to cut the cost of IT and consumer electronics products, the World Trade Organization is ending tariffs on imports including game consoles, TVs, GPS receivers and advanced chips from July 2016.

The tariffs -- in some countries as high as 35 percent on products such as video cameras -- will be phased out over seven years under an agreement finalized Wednesday, and applies to all 192 member countries of the WTO.

The vast majority of the savings will take effect next July, when tariffs are abolished on around 130 categories of IT equipment, accounting for 88 percent of affected imports, WTO Director-General Roberto Azevêdo said Wednesday.

By 2019, 95 percent of imports affected by the changes will be tariff-free, with all 201 product categories covered by the agreement being exempted within seven years, Azevêdo said.

Other products that will become tariff-exempt include touch screens, telecommunications satellites, tools for manufacturing printed circuits and some medical products, he said.

While cars aren't directly affected by the trade deal, components to make them safer and more fuel-efficient are, as the multicomponent integrated circuits they contain were recently reclassified as semiconductors, one of the categories exempted from tariffs, according to the European Semiconductor Industry Association.

The agreement affects around 10 percent of the world trade in information and communications technology products and will eliminate around $50 billion in tariffs annually, according to IT industry lobby group DigitalEurope. It expects a $190 billion boost to global GDP from the changes.

The deal doesn't go far enough for Digital Europe, which wants to see a similar agreement on trade in IT-related services introduced by the end of 2016.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Peter Sayer

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?