He also said the agreement would probably eliminate deals involving short-term payments.

The agreement will reduce or eliminate tariffs on thousands of industrial and agricultural products.

The agreement eliminates the 4 percent state sales tax on clothing, up to $100 in price for each article, beginning in December 1999.

The worldwide agreement would lower or eliminate tariffs on a wide range of goods and services.

The agreement would also lower or eliminate dozens of other barriers to a free market in agriculture, energy, financial services, investments and service industries.

Analysts said that while the amount involved was not significant to the banks, the agreement eliminated a source of risk to the banking system.

The agreement will eliminate bilateral tariffs within 10 years, beginning Jan. 1, 1989.

The agreement would eliminate most remaining barriers to trade over a 10-year period.

The agreement eliminates tariffs over a 10-year period, which could increase exports even more.

The agreement will also very likely eliminate draft-choice compensation for lost free agents.