The imposition of duties on the global trade of technology products is significant from a monetary standpoint.
However, Reuters reports that a potential agreement among the United States, China, the European Union and almost two dozen other countries that could eliminate billions of dollars of such duties might be achieved as soon as within the next two months.
At issue is the negotiation of a possible expansion of the World Trade Organization’s Information Technology Agreement. The Agreement is a pact from the late 1990s that ended duties on a wide array of technology products. These products include laptops, computers, telephones, fax machines, software, semi-conductors and some office machines.