China and U.S agree to cut tech tariffs

  • China and the United States have reached an 'understanding' to remove to tariffs on high tech goods. 
  • 'Understanding' should pave way for expansion of the 1997 Information Technology Agreement (ITA). 
  • Michael Froman, U.S Trade Representative : 'We’re going to take what’s been achieved here in Beijing back to Geneva to work with our W.T.O. partners'. 
  • News was welcomed by the U.S Chamber of Commerce.