WTO hails 'landmark' IT trade deal to cut product tariffs
July 25 , 2015
The World Trade Organisation (WTO) has struck a deal to slash tariffs on technology products worth $1.3 trillion, updating the 18-year-old IT Agreement.
Describing it as a “landmark” agreement, WTO director-general Roberto Azevedo said cutting tariffs “of this magnitude” will have a “huge impact”.
The deal, which has added 200 products to the zero tariff list, is expected to benefit a wide range of producers. The WTO said it would also create jobs and boost worldwide GDP growth.