Technology News India

The world of technology is in disarray and not just because of the old news that is the Yahoo takeover by Microsoft. The EU are at loggerheads with the US over the tariffs that are charged for high tech goods. The problem is focussed around the EU hiking up prices on a number of goods including multi-function printers and TV set-top boxes that have internet capabilities.
The US are not happy as they believe this to be in violation of the terms of the World Trade Organisations Information Technology Agreement, or ITA which eliminated duties om high tech products from 1997 to encourage trade. The EU began charging duties on these specified products since 2005 arguing that they are no longer exclusively high tech products, they are in fact consumer products and therefore fair game.
The US are none too happy about this and the mediations have broken down. The US have called in the World Trade Organisation asking them to mediate the situation as formal consultations between the US and EU to resolve the US concerns about the suspected violation of the 1996 WTO accord have broken down. The US believe that EU tariffs are inconsistent with the WTO accord and they discourage technological development in the IT sector