China Agrees to Cut Tariffs on Imported Medical Devices

At last week's G-20 summit in Beijing, the leaders of the world's largest economies signed a trade agreement to cut tariffs and duties on medical devices, a pact that would eliminate import taxes that can be as high as 8% in China. The new agreement extends an existing treaty, the World Trade Organization's Information Technology Agreement, to new industries, which now includes medical devices such as high-end imaging equipment along with non-medical additions such as computer software, GPS devices and semiconductors.

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