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China Agrees to Cut Tariffs on Imported Medical Devices

Jan. 16, 2015

At the G-20 summit in Beijing, world leaders signed a trade agreement to cut tariffs and duties on medical devices, a pact that would eliminate import taxes 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 include medical devices such as high-end imaging equipment, as well as non-medical additions such as computer software, GPS devices and semiconductors. At the G-20 summit in Beijing, world leaders signed a trade agreement to cut tariffs and duties on medical devices, a pact that would eliminate import taxes 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 include medical devices such as high-end imaging equipment, as well as non-medical additions such as computer software, GPS devices and semiconductors.