The World Trade Organization has ruled that the European Union’s import taxes on some consumer electronics and tech products imported from the US, Japan, and Taiwan are illegal. In 1996, the EU had agreed to not tax imports on 72 tech products to increase trades, but has since re-classified some some of those technology products into the consumer electronics item from the high-technology classifications; under the consumer electronics tag, the EU can levy import duties whereas if the devices are classified as high-technology goods, taxes would not be levied under the agreement.
Under the new classification as consumer electronics products, a tax of between 6 and 14% were levied on items from set-top boxes, flatscreens, and printers. This had led to a complaint from one or more of the countries involved, and the World Trade Organization has accepted their grievances. The decision of the WTO panel is scheduled to be published next month and the EU has up to 60 days to appeal. Are cheaper electronics coming to European stores soon?
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