In 2012, some ITA participants began making proposals to include additional products in the ITA. Hong Kong, China has been actively and constructively involved in discussions to expand ITA product coverage. On 16 December 2015, the 24 participants in the expansion of the ITA (ITA) trade announced the conclusion of negotiations on the liberalisation of trade in computer products beyond the original ITA. Under the new agreement, the tariff for an additional 201 computer products, including next-generation semiconductors, GPS navigation systems, circuit board production tools, telecommunications satellites, touch screens and some advanced medical equipment, will be discontinued from July 2016. According to the WTO, annual trade in these products is estimated at $1.3 trillion in 2015, or about 10% of world trade in products. The home page of the WTO Information Technology Agreement allows U.S. exporters of computer products to get more details about the agreement. ItA covers a large number of high-tech products, including computers, telecommunications equipment, semiconductors, semiconductor manufacturing and control equipment, software, scientific instruments and most parts and accessories of these products. Chart 2 ITA expansion: Estimated value of trade per member covered by the agreement, 2011-2013 The wide range of computer products for which tariffs have been removed under the agreement are listed in Schedules A and B of the Annex of the Agreement. Recognizing the rapid advances in computer technology, the agreement calls for an annual product review to extend coverage to new products. The WTO ITA Committee has also begun work on non-tariff measures for the sector. Hong Kong, China is a signatory to the World Trade Organization (WTO) Information Technology Agreement (ITA) concluded in December 1996.
Under the ITA, signatories reduce their tariffs on certain information technology products from all WTO members (including non-signatories) to zero.