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Int'l Development
by mstandaert on July 24, 2006
Story from Reuters:
"The WTO negotiations are suspended," Indian Commerce and Industry Minister Kamal Nath told journalists. When asked how long the suspension could last, he replied: "Anywhere from months to years."
The round, launched in the Qatari capital in 2001, stumbled from the start over how far rich nations would go to dismantle their huge farm subsidies and open up their markets.
Fourteen hours of talks between the so-called G6 -- the United States the european union, Brazil, Australia, Japan and India -- yielded no breakthrough on Sunday on the question.
The European Union and India firmly pointed the finger at the United States for the final breakdown, saying that Washington had been demanding too high a price for cutting into the some $20 billion it spends annually on farm subsidies.
Accusing the United States of "stone-walling," EU Trade Commissioner Peter Mandelson said: "Surely the richest and strongest nation in the world, with the highest standards of living, can afford to give as well as take."
More on this story at Salon.com, Business Week, the Financial Times, U.S. Newswire, and the International Herald Tribune.
Blog coverage on the story at: National Farmers Union, Iowa's Chuck Grassley at the Hill Blog, 7Days, Ben's Blog and Intellectual Property Watch.
Permalink: Doha Round trade talks collapse
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