ID :
13421
Tue, 07/22/2008 - 23:17
Auther :
Shortlink :
http://m.oananews.org//node/13421
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U.S. ready to cut farm aid to push WTO free trade deal
GENEVA, July 22 Kyodo - The United States said Tuesday it is ready to limit its farm subsidies to $15 billion a year in an attempt to strike a deal at the long-delayed Doha Round of talks on global trade.
''We are prepared to reduce our overall trade-distorting domestic support to $15 billion'' a year, U.S. Trade Representative Susan Schwab said at a news conference at the World Trade Organization.
''This is a major move, taken in good faith with the expectation that others will reciprocate and step forward with improved offers in market access,'' she said as trading powers engaged in their second day of key talks in Geneva.
''Now here is a catch, we are making this offer without actually knowing what others will do,'' Schwab said. ''But for this round to succeed as a development round, all the main developed and emerging market players will be faced with hard decisions. We know that.''She said this is ''a very forward-leaning offer and a strong sign of our commitment'' and stressed that the materialization of this proposal necessitates greater market access in agriculture and industrial goods.
The latest WTO text serving as the basis for farm negotiations requires the United States to slash its trade-distorting farm subsidies to a range of $13 billion to $16.4 billion a year from the current limit of $48.2 billion.
Developing countries argue that sharp cuts in domestic agricultural subsidies by the United States and other rich countries hold the key to the successful conclusion of the ongoing free trade talks.
''We are prepared to reduce our overall trade-distorting domestic support to $15 billion'' a year, U.S. Trade Representative Susan Schwab said at a news conference at the World Trade Organization.
''This is a major move, taken in good faith with the expectation that others will reciprocate and step forward with improved offers in market access,'' she said as trading powers engaged in their second day of key talks in Geneva.
''Now here is a catch, we are making this offer without actually knowing what others will do,'' Schwab said. ''But for this round to succeed as a development round, all the main developed and emerging market players will be faced with hard decisions. We know that.''She said this is ''a very forward-leaning offer and a strong sign of our commitment'' and stressed that the materialization of this proposal necessitates greater market access in agriculture and industrial goods.
The latest WTO text serving as the basis for farm negotiations requires the United States to slash its trade-distorting farm subsidies to a range of $13 billion to $16.4 billion a year from the current limit of $48.2 billion.
Developing countries argue that sharp cuts in domestic agricultural subsidies by the United States and other rich countries hold the key to the successful conclusion of the ongoing free trade talks.
