Mandelson: Immediate Subsidy Cuts 'Not Possible'
Speaking to reporters on Monday, EU Trade Commissioner, Peter Mandelson
revealed that the European Union is unlikely to be making new concessions over
agricultural subsidies at the Doha round of global trade talks which began in
Hong Kong today. Suggesting that a deal on immediate subsidy cuts was "not possible",
Mr Mandelson reasoned that the six day WTO talks should focus on agreeing the
format of cuts to take place next year. "There's simply too little on the table to negotiate about in Hong Kong,"
he observed. The EU has been slammed by the United States and developing WTO members for
failing to pledge sufficient tariff cuts. However, the EU has countered by arguing that its proposed 46% farm tariff
cut is a significant one, and represents its best offer, given the strong objections
of countries such as France to further cuts. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.