China’s Ministry of Commerce on Saturday lauded the landmark deal by WTO members to cut tariffs on $1 trillion worth of information technology products in a boost for producers of goods ranging from video games to medical equipment.
The agreement will further promote global trade and world economic growth, and also inject new vitality into multilateral trade negotiations, said the Commerce Ministry.
“If the negotiations are concluded as scheduled, they will be the only completed WTO negotiations on market access in recent years,” the Chinese ministry said in a statement on its website.