July 28, 2004
Free Market Miracle #0002
Signs were growing yesterday that leading countries are prepared to walk away from last-ditch trade-treaty negotiations if they don't get their way over agriculture.
Developing countries say a draft framework for the World Trade Organization (WTO) treaty does too little to force rich nations to cut their import tariffs and subsidies, while the European Union remains concerned that EU farmers would have to give up more than their U.S. rivals.
...
"We cannot sacrifice substance for timing," Argentina's International Trade Secretary Martin Redrado told reporters. "If there is no good substance, Argentina will not go along with it."
Argentina and other members of the Group of 20 developing countries are concerned that the current proposal could allow rich nations to maintain high import duties on many farm goods and that it contains a loophole for the United States to continue subsidizing farmers.
...
The European Union has agreed to eliminate all export subsidies on farm products and to make big cuts to other subsidies, but only if the United States, Australia, and other rich nations make similar moves. They are concerned that the current proposal is unclear on that.
Emphasis added.
Note: This Free Market Miracle brought to you by the party of Small Government, the GOP.
Posted by Eddie Tews at July 28, 2004 03:24 PM
Comments
In this article it states "The WTO's 147 members have given themselves until the end of week to agree on the skeleton of the treaty" Do you know of any follow ups to this article in the Seattle Times? Did the WTO talk turn into a failure? -- Posted by: Robert Hardy on August 10, 2004 07:04 PM