Talks in the World Trade Organization (WTO) on broadening the scope of the Information Technology Agreement continue to be deadlocked after eleven days of negotiations. The product coverage of the existing agreement has not been updated since 1996, despite the vast increase in ICT products since that date, and the ITA is therefore in need of reform. If the agreement could be expanded to cover new products such as global positioning systems, video game consoles and flat panel displays there could be an estimated USD 190 billion boost to world trade. It is now unlikely that the new agreement will be concluded before the meeting of the ministers of the Asia Pacific Economic Cooperation (APEC) countries in May 2014.
US Committee Considers Middle Class Tax Burden
US-Iraq Hold First TIFA Meeting
Related Posts
US: Trump administration escalates tariff threat on Canadian automotive sector
President Donald Trump announced plans to impose 50% tariffs on all vehicles, trucks, and automotive parts originating
Read More
Canada suspends US trade negotiations, retaliates with matching tariffs
Prime Minister Mark Carney announced on 21 August 2026 that Canada's government has halted negotiations with the US
Read More
US: IRS launches digitally authenticated tax compliance report for individual taxpayers
The US Internal Revenue Service (IRS) announced on 20 August 2026 that a digitally authenticated Tax Compliance Report
Read More
US: IRS states interest rates to remain unchanged for Q4 2026
The US Internal Revenue Service (IRS) announced on 21 August 2026 that the interest rates will remain the same for the
Read More
US: IRS clarifies limitation on deduction for business interest expense
The US IRS has published updated Questions and Answers about the limitation on the deduction for business interest
Read More
US: Treasury, IRS propose eligibility rules for refundable individual tax credits
The US Treasury and IRS issued the proposed regulations on 18 August 2026. The rules would apply the eligibility
Read More