Posted on 22/07/08
EU dangles farm tariff cuts to kick-start WTO talks
The European Union said yesterday it would be willing to slash farm tariffs by 60 per cent as part of a new global trade pact, the deepest cut it has ever offered. EU Trade Commissioner Peter Mandelson told reporters at the World Trade Organization that the offer was meant to kick-start a week of talks on a new global commerce pact. The 27-nation bloc has previously proposed to cut the tariffs by 54 per cent. Mr. Mandelson added the offer depends on emerging economies, such as Brazil, India and China, responding with improved offers on lowering industrial tariffs.
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