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WTO extends e-commerce tariff ban until June 2020

The World Trade Organization agreed to extend a 20-year ban on e-commerce tariffs until June 2020, averting duties on $225 billion per year in digital trade, as estimated by Reuters.

The trade body has renewed the moratorium at each ministerial conference since 1998, and the last renewal was due to expire in December.

This comes as a number of economies, including India and South Africa, believe they could benefit from the lifting of such tariffs as e-commerce transactions seem on the rise, Reuters reported.