WTO finally agrees to new trade pact after years of talks.

A meeting of ministers at the World Trade Organization has agreed to a "trade facilitation decision" that is designed to cut the cost of trade by 10-15%, which could add $400B-$1T to the global economy and create 21M jobs. Once the deal is adopted, it should "speed up customs procedures, and make trade easier, faster and cheaper." The pact came at the latest round of the Doha talks, which have been going on since 2001, and is much weaker than the original goals of the discussions.