Major trade powers have reached a deal to cut tariffs on around 200 technology products, a decision that could pave the way for lower prices for consumers.
The Geneva-based World Trade Organization says 49 of its members including the United States, China and the 28-country European Union reached a tentative accord that caps three years of talks.
The products on which import duties will be scrapped under today's deal include GPS navigation equipment, medical scanners and new-generation semiconductors.
The deal, which should be finalized by December, expands the scope of the 1996 Information Technology Agreement involving 81 countries.
WTO chief Roberto Azevedo called it a "landmark" agreement that covers trade in products valued at over USD 1.3 trillion a year, or some 7 percent of global trade.
