US under pressure to cut farm subsidies
Paris, September 25:
The United States is under growing pressure to make difficult concessions on farm subsidies
after yesterday’s meeting with three other trade powers failed to break a deadlock that threatens global trade talks. Washington so far has resisted demands that it come up with an offer to cut market-distorting farm aid, saying it first wants to see moves by trade partners to reduce agricultural import tariffs. But the European Union (EU) took a step in that direction yesterday, presenting a detailed but tentative tariff-cutting offer at talks with US trade representative Rob Portman and ministers from India and Brazil. With just three months remaining before a Hong Kong summit at which 148 governments are supposed to agree on a framework global trade treaty, expectations for a US gesture on farm subsidies are mounting.