Technology goods to become cheaper
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READING:
A new world trade agreement will make IT products cheaper. Over 50 countries will end import duties on 200 IT products. The European Union, China, Japan, South Korea, the U.S. and other countries signed the deal. It will affect smartphones, cameras, ink cartridges, video game consoles and even satellites. Import duties will be removed in the next four years. This will affect $1.3 trillion worth of trade. This is about 7 per cent of all world trade.
The deal will be good for the world. It will be good for consumers, and for companies. The countries worked hard to find the best solutions. The deal will cut costs for consumers and business. It will be particularly good for smaller companies. The EU hopes more countries will sign in the next few years. It said: "Countries around the world can work together to achieve solutions that benefit everyone."
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