voa economic report - World Trade Talks Break Down as the Group of 4 Fail to Reach Agreement

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is the VOA Special English Economics Report.

Talks meant end disagreement over international trade failed to produce results Potsdam, Germany last week. The European Union and United States sought to find common ground with Brazil India on several trade issues. The group has known as the G-Four in World Trade Organization negotiations. But neither side could agree and talks ended last , two days earlier than expected.

Brazil and India have seeking big cuts in aid provided to farmers in countries. The two nations have played the part spokesmen for many of the least developed nations in one-- hundred-fifty-member WTO...

During the talks, United States offered to limit farm aid, or subsidies, seventeen billion dollars a year. That is down twenty-two billion dollars offered in October of two thousand . But Brazil wants the United States to promise bigger reduction in farm aid to below fifteen billion . Currently, American farmers receive a total of about billion dollars a year in subsidies.

Indian Trade Minister Nath blamed the United States' position on farm aid the failure of the talks. But India wants protect twenty percent of its farm product import taxes all or most cuts. United States Agriculture Secretary Johanns said that would leave almost all of India's taxes in place.

An official at the talks said EU offered to cut import taxes on its most farm products by seventy percent. That is ten points higher than its proposal from October, two thousand . Products considered especially important would only receive subsidy of twenty-three percent.

The Doha round of ... negotiations started in November of two thousand one. main goal was for rich countries to reduce their subsidies on important crops like cotton, sugar and corn. In return, developing countries would reduce or end barriers trade in goods and services from industrial countries.

Now, negotiations of the Doha Round will have to in Geneva, Switzerland. United States Trade Representative Susan said nations want to reach agreement on the Doha plan. But she admitted that negotiations only among G-Four nations may not be enough.

And that's VOA Special English Economics Report. I'm Mario Ritter.

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