The WTO’s aim is to boost different economies worldwide and the freedom of tariffs will have widespread implications.
According to Reuters, the list includes semiconductors, GPS systems, MRI machines, satellites, computers and hi-fi systems.
It’s 18 years since the WTO’s last list and the agreement, said to be worth $1.3 trillion, will mean goods will have zero import tariffs and will be duty free.
While not every country consulted has signed up to the deal, it’s expected that the chief five who didn’t will. Among those five of the 540 companies is Taiwan.
Countries which haven’t signed up need to consult with their governments before they sign on the dotted line.