EU offers 60 pct cut in farm tariffs
The European Union (EU) has offered to cut its farm tariffs by 60 pct to kick-start trade talks in Geneva.
Monday, 21.07.2008.
13:11
The European Union (EU) has offered to cut its farm tariffs by 60 pct to kick-start trade talks in Geneva. EU trade commissioner Peter Mandelson said this was the best offer yet from Brussels on the crucial farming issue. EU offers 60 pct cut in farm tariffs Mandelson urged emerging economies such as Brazil, India and China to reciprocate by slashing their industrial tariffs. The US trade chief said America was determined to make the talks succeed if emerging nations made a contribution. "When it comes to trade negotiations, the vast overwhelming contribution has to come from market liberalization rather than the subsidy side," US trade representative Susan Schwab said. Europe's latest contribution to global efforts to cut agricultural trade barriers was its best offer yet, Mandelson argued. "That is a very considerable improvement on our own part, but of course it's light years away from any effort we've previously made in a trade round," he said. Previous trade talks have failed over the issue of farm subsidies and tariffs and how far trade in services should be liberalized.
EU offers 60 pct cut in farm tariffs
Mandelson urged emerging economies such as Brazil, India and China to reciprocate by slashing their industrial tariffs.The US trade chief said America was determined to make the talks succeed if emerging nations made a contribution.
"When it comes to trade negotiations, the vast overwhelming contribution has to come from market liberalization rather than the subsidy side," US trade representative Susan Schwab said.
Europe's latest contribution to global efforts to cut agricultural trade barriers was its best offer yet, Mandelson argued.
"That is a very considerable improvement on our own part, but of course it's light years away from any effort we've previously made in a trade round," he said.
Previous trade talks have failed over the issue of farm subsidies and tariffs and how far trade in services should be liberalized.
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