November 1, 2016
The World Trade Organization's (WTO) announced that a large majority of participants in the newly-expanded Information Technology Agreement (ITA) have now implemented their tariff commitments under the deal, with full implementation on track for the near future
Reporting on behalf of the ITA Expansion group to the WTO's ITA Committee, Canada said it was pleased to note that 18 of the 24 participants in the expanded ITA have now submitted modified tariff schedules and that others were on track to do so.
The agreement received a major boost on 26 October 2016 when China submitted its ITA expansion commitments to WTO Director-General Roberto Azevêdo.
The expansion of the ITA eliminates customs tariffs on products valued at over US$1.3 trillion in annual trade. These are in addition to the products covered under the original ITA concluded in December 1996, which accounted for an estimated $1.6 trillion in global trade in 2013.
As we reported in July, Canada has already implemented its commitments under the agreement with the Order Amending the Schedule to the Customs Tariff (Information Technology Agreement Expansion, 2016)
Additional link: List of participants and Schedules of concessions