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Leaders Agree to Cut Tariffs on $1.3 Trillion of Tech Goods

  • Reduction in import fees may add $190 billion to global GDP
  • Process to cut tariffs will finish by 2024, WTO says
Computerplatine, Nahaufnahme
Photographer: ullstein bild via Getty Images
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Global trade leaders have agreed to reduce import charges on 201 information-technology products in the first major World Trade Organization tariff-cutting deal in almost 20 years.

Japanese Minister for the Economy Motoo Hayashi announced the reductions on Wednesday at the trade body’s 10th ministerial conference in the Kenya capital, Nairobi.