JCCT Fails To Yield ITA Progress, But U.S. Industry Likely To Acquiesce

This week’s U.S.-China Joint Commission on Commerce and Trade (JCCT) failed to yield a firm commitment from Beijing officials to shorten China’s phaseout periods for tariffs covered by an expanded Information Technology Agreement (ITA), according to U.S. industry sources. U.S. industry groups and other ITA participants see China's offer as less than ideal, but no longer seem to consider it a deal-breaker, sources said. Specifically, U.S. industry groups have indicated they are resigned to five-year phaseouts for major commercial priorities...