World Trade Organisation talks in Geneva have collapsed after nine days of negotiations.
Some 40 ministers from rich and poor countries were unable tie up a compromise package aimed at liberalising global trade. The main stumbling block was a special safeguard mechanism (SSM) in the agriculture sector. This allows countries to protect poor farmers by imposing a tariff on certain goods in the event of a drop in prices or a surge in imports. Officials said India, China and the US were unable to agree on the tariff threshold for such an event. European Union Trade Commissioner Peter Mandelson said it was "heartbreaking" that efforts to strike a global deal had collapsed due to one single element. Some delegation members expressed their hope that the WTO talks could be renewed in the autumn.
(Deutsche Welle)
more info >>
<< Back