NAM thanks Taiwan for joining request against EU.
Press Release Summary:
NAM President, John Engler, made statement thanking Taiwan for joining U.S. and Japan in consultation request against European Union at World Trade Organization for circumventing commitments under Information Technology Agreement. ITA was established to spur worldwide innovation, growth, and advancement in technology. EU has unilaterally imposed duties and is threatening to impose additional duties on variety of high tech products that, under ITA, should be duty-free.
Original Press Release:
NAM Thanks Taiwan for Joining Request Against EU
WASHINGTON, D.C. - June 16, 2008 - The National Association of Manufacturers President John Engler issued the following statement today thanking Taiwan for joining the United States and Japan in their consultation request against the European Union (EU) at the World Trade Organization (WTO) for circumventing its commitments under the Information Technology Agreement (ITA).
Taiwan's decision to join the United States and Japan shows that the EU's trading partners are deeply concerned about the EU's unilateral actions to undermine the foundation of the ITA. The ITA was established in 1997 to spur world wide innovation, growth and advancement in technology. The EU's actions are unjustified trade barriers in this key sector. Taiwan is an important player in the global IT industry and their stepping up to join the U.S. and Japan is clear evidence of the breadth of the international concern over these EU actions.
The EU has unilaterally imposed duties and is threatening to impose additional duties on a variety of high tech products that under the ITA are supposed to be duty-free. For example, computer monitors that can receive video signals are being redefined as television sets with a 14 percent duty.
On May 28th, the United States and Japan filed for formal consultation at the WTO against the EU for violating its commitments to the ITA. The ITA has made a significant contribution to U.S. and world economic growth by promoting trade, jobs and investment in the information technology sector. World exports of IT products have soared from $600 billion in 1996 when the ITA was signed to more than $1.5 trillion today.
The ITA has proven an important tool for economic advancement and the EU's actions continue to undermine this significant agreement.
The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM's award-winning web site at www.nam.org for more information about manufacturing and the economy.
