Financial Times FT.com

Apec agrees formula for cuts in tariffs

By Alan Beattie in London and Raphael Minder in Brussels

Published: June 3 2005 19:46 | Last updated: June 3 2005 19:46

Global trade talks took a small step forward on Friday as a conference of Asian and Pacific nations agreed a broad framework for cuts in tariffs on goods trade.

But the Asia-Pacific Economic Co-operation (Apec) meeting in South Korea was marred by a war of words between China and the US over America's imposition of emergency trade barriers against Chinese textile exports.

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