ADVERTISEMENT

ADVERTISEMENT

WTO-TradeTalks 1stLd-Writethru 07-21 Web

EU offers to cut tariffs 60%

The European Union said today it would slash farm tariffs by 60 percent as part of a new global trade pact, a deeper cut than it has ever offered.

EU Trade Commissioner Peter Mandelson told reporters at the World Trade Organization that the offer was meant to kick-start an important week of global commerce talks on a new global commerce pact.

The 27-nation bloc has previously proposed to cut the tariffs by 54 percent.

"We’ve decided to help the negotiations this week get off to a strong start by raising the average cut in our agricultural tariff," Mandelson said. "That is a very considerable improvement on our own part, but of course it’s light years away from any effort we’ve previously made in a trade round."

ADVERTISEMENT

Rich and poor countries have clashed repeatedly in the seven-year WTO talks known as the Doha round. Developing nations want more agricultural openings, while the U.S., EU and others seek better access for their manufacturers and banks.

What To Read Next
Caitlin and Jason Keck’s two-year term on the American Farm Bureau Federation committee begins next month.
The Minnesota Public Utilities Commission met on Jan. 5, 2023, to consider the application for Summit Carbon Solutions.
Qualified Minnesota farmers will receive dollar-for-dollar matching money to purchase farmland.