With Offer, Europe Tries to Spur Trade Talks

July 22, 2008

22 July 2008

With Offer, Europe Tries to Spur Trade Talks

This article is excerpted from the 22 July 2008 edition of “The New York Times”.

The European Union began crucial global trade talks Monday with an offer of reducing its farm tariffs by 60 percent — the highest figure it has yet offered — in a challenge to developing countries to make concessions.

The offer from the European trade commissioner, Peter Mandelson, was intended to ignite the stalled Doha trade round, which began seven years ago.

Until now, Europe has offered a maximum of 54 percent tariff reductions…

It remained unclear whether Europe’s intervention would break the overall stalemate, because the basic shape of the European offer remained the same.

The talks this week in Geneva are seen as the last chance to achieve a global deal to liberalize trade in the near future. With a presidential election looming in the United States and Europe scheduled to change its trade negotiator next year, a breakthrough this week is seen as essential to any hopes of a swift agreement….

[D]eveloping countries remain dissatisfied with the agricultural concessions offered so far by Europe and United States….


Topic(s): 
World Economy & Politics
Information Source: 
Canadian News Channel / International News Channel
Document Type: 
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