US, China reach 'understanding' on cutting IT tariffs: White House
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BEIJING (AFP) - The United States and China have "reached an understanding" on an agreement to reduce tariffs on information technology trade, the White House said in a statement Tuesday.
Washington hoped the move would "contribute to a rapid conclusion" of negotiations in Geneva on the World Trade Organization's first major tariff-cutting deal in 17 years, President Barack Obama told leaders gathered for an Asia-Pacific summit in Beijing, the statement said.
