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TAIWAN READY TO ENGAGE IN FIRST-EVER WTO LAWSUIT.
TAIPEI, Aug 1 Asia Pulse - Taiwanese trade negotiators are prepared to enter the court of trade for a lawsuit over a tariff dispute with the European Union under the framework of the World Trade Organization (WTO) trade dispute settlement, as pre-trial consultations have ended without a satisfactory result, a trade negotiator said Thursday.
Taiwan decided in June to file the country's first-ever WTO complaint, joining with Japan and the U.S. in seeking the elimination of EU tariffs on certain IT products.
Under the WTO Information Technology Agreement (ITA) , signed by the 70 countries responsible for 97 percent of the world's IT trade, IT products are supposed to enjoy duty free treatment.
However, since 2006, the EU has imposed import duties of as high as 14 percent on 19-inch or larger liquid crystal displays (LCDs), set-top boxes and multifunctional printers, categorizing them as electrical appliances rather than IT products.
A trade negotiator said the 60-day consultation with the EU, which was designed to settle the dispute without having to take the issue before the court, is expected to fail, as the EU is standing its ground and showing no indication that it will lower the taxes voluntarily.
"Taiwan's trade negotiators are prepared to enter the lawsuit," Chen Chern-chyi, a trade negotiator of Taiwan's Office of Trade Negotiations (OTN) said at a Thursday press conference.
Chen, who specializes in legal affairs and rules, said that after Aug. 11, when the 60-day period expires, the OTN will request WTO's Dispute Settlement Body to motion for a lawsuit, hinting that the court could be ...
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Source: HighBeam Research, TAIWAN READY TO ENGAGE IN FIRST-EVER WTO LAWSUIT.