EU Offers 60% Tariff Cut and Asks Brazil and Friends to Reciprocate

Europe vineyard The EU (European Union) has offered to cut its farm tariffs by 60% to kick-start trade talks in Geneva. EU trade commissioner Peter Mandelson urged Brazil, India and China to reciprocate by slashing their industrial tariffs. The EU previously offered to cut farm tariffs by 54%.

The US trade chief also vowed to help make the talks succeed if emerging nations made a contribution. But developing countries warned that rich nations were expecting too much from their poorer counterparts.

Indonesia's trade minister, Mari Pangestu, said rich nations' hopes for an increased share of global trade should take a back seat to the development goals of the current trade round.

Brazil's foreign minister Celso Amorim said emerging economies, such as China, India and Brazil, were already offering substantial concessions and that developed countries should not expect too much.

Ministers from 35 nations are trying to reach a deal in talks at the Geneva-based World Trade Organization in the framework of the Doha round.

The Doha round of trade talks began in 2001. Discussions have so far foundered over the extent of cuts to farm subsidies and how far trade in services such as banking should be liberalized

Mercopress

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  • Jorge Gonzalez

    Unique alternative
    It seems as if the EU is looking to gain Brazil’s trust by lowering tarrifs and getting more contracts from some of their big named companies. EU partners can benefit greatly from something like this. Hopefully the EU can follow through on their tarriffs and not raise prices once more brazilian contracts are taken out of the EU.

  • João da Silva

    Ch.c
    [quote]In Egypt, the world largest wheat importer, not only do they benefit from the subsidized wheat produced in developed nations, but ON TOP…….RE-SUBSIDIZE THE IMPORTED WHEAT….A SECOND TIME !!!![/quote]

    I did not know this fact about Egypt and thanks for the interesting info.

  • ch.c.

    So right Bo !
    Better yet : recently…. India and Thaiand CANCELLED bilions, billions and billions of US$ for farmers debts !!!!!!

    And in many developing countries, for ALL their citizens, they subsidize their own STAPLE foods production….on top of FUEL SUBSIDIZES such as China, India, Egypt, Indonesia. just to name a few.

    In Egypt, the world largest wheat importer, not only do they benefit from the subsidized wheat produced in developed nations, but ON TOP…….RE-SUBSIDIZE THE IMPORTED WHEAT….A SECOND TIME !!!!

    AND GUESS WHAT : WE, THE DEVELOPED NATIONS ARE WRONG TO SUBSIDIZE AGRICULTURE.

    But….but….but…..NOT THEM…..OF COURSE !!!!!

    Lets face it, developing nations are rioting at times of high foods prices. Does a elimination or reduction in subsidizes will make it more…..CHEAPER ?????

    hMMMMM….ONLY THOSE WITH A BIG HOLE IN THEIR BRAINS….AGREE !!!!!

  • bo

    [quote]The EU (European Union) has offered to cut its farm tariffs by 60%…. [/quote]

    [quote]Brazil’s foreign minister Celso Amorim said emerging economies, such as China, India and Brazil, [b]were already offering substantial concessions[/b] and that developed countries should not expect too much. [/quote]

    Why don’t they detail the “substantial concessions” that Brazil and others are offering??

    I’m sorry, but Brazil and others are always crying about subsidies when they themselves subsidize their own farmers with low interest loans and tax breaks. How does one expect one to compete that pays their employers “livable” wages when the other pays theirs a wage of miseria?

    Brazil always wants everything in their favor. They have no interest in a “level playing field” or things being “fair”.

    Yesterday while at the mall here in Aracaju I was looking at the prices for numerous items, even in the fast-food restaurants, and with the exception of New York, LA, and other U.S. megalopolis’, brazil is more expensive than the U.S. and it’s all because of the exorbinant taxes that are levied against EVERYTHING!

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