WTO negotiators urge cuts in US farm subsidies, emerging nations' import tariffs |
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Tue, 17 Jul 2007 15:08
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GENEVA (Thomson Financial) - Chief negotiators in World Trade Organisation talks today presented new technical proposals advocating sharp cuts in US government subsidies for farmers and in industrial import duties imposed by emerging nations.The new 'draft modalities' proposed cuts in US agricultural support to below 16.2 bln usd a year, compared to 19 bln usd allowed now, and reductions in import duties charged by emerging nations to less than 23 pct, officials said.One month after negotiations in Germany broke down between the G4 -- the US, the EU, Brazil and India -- the WTO presented two draft agreements on agriculture and industrial products, in the hope of concluding five and a half years of negotiations on the liberalisation of world trade.The clause on agriculture asks the US to reduce its farm subsidies within a range of 66-73 pct, which would bring the annual total amount in subsidies to US farmers to between 12.8 and 16.2 bln usd.The latest US government proposal on the table was proposing to lift these subsidies to 22 bln usd.tf.TFN-Europe_newsdesk@thomson.comafp/cmr/lceCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Developing countries hold ground in WTO talks - Brazil FM 