It announced several other measures in addition to the tariff cuts.

A major development encouraging trade between the advanced countries was tariff cuts.

Because the tariff cuts are only in cases where there has been no industry opposition, the agreement is expected to pass easily in both countries.

"The purpose of our tariff cut is to encourage imports and liberalize our market," she said.

After more than six months of bargaining, international trade officials reached agreement today on how to negotiate tariff cuts.

These across-the-board tariff cuts are welcomed because they will reduce consumer prices and therefore lift living standards around the world.

But it will probably take several years for the first tariff cuts or other measures to be seen.

While some stand to gain new business, others fear that tariff cuts will bring in overwhelming U.S. competition.

But retailers that have already decided to delay orders say the tariff cuts would not necessarily make a difference right now.

There was nearly complete agreement on a package of tariff cuts, including ones that could spur imports to Japan.