Federal regulators say Americans are paying too much for overseas phone calls - the average charge is about a dollar a minute - and they took a first step Tuesday toward getting U.S. phone companies a better deal from foreign carriers.

But don’t expect the action by the Federal Communications Commission to bring a quick or widespread drop in international rates.

The commission’s order will give U.S. companies much more flexibility to negotiate rates closer to actual costs but only in foreign markets that are open to competition.

For now, Canada, Chile, the United Kingdom and Sweden are among the few countries that would fall into that competitive category.

Still, the order, paired with international trade negotiations and another FCC proposal in the works, offers the potential for policy changes that eventually could save U.S. callers billions of dollars, telephone executives and regulators say.

The order is expected to take effect in two months.