News In Brief
EC to speed tariff cuts on third-world goods
The 10-nation European Economic Community agreed Tuesday to cut import tariffs on a limited number of goods one year earlier than previously planned and to speed up tariff reductions on a broader range of goods by six months. But those cuts were made conditional on the United States' agreeing to accelerate its tariff cuts.
The EC has not said specifically what goods would be affected by these cuts, but officials said they would be mainly goods exported by the world's poorer nations. The reductions are designed to limit national barriers to free global trade.