Marathon talks in Geneva aimed at liberalising global trade have collapsed, the head of the World Trade Organisation has said. Pascal Lamy confirmed the failure, which officials have blamed on China, India and the US failing to agree on import rules. EU Trade Commissioner Peter Mandelson said the result was "a burial".
Marathon talks in Geneva aimed at liberalising global trade have collapsed, the head of the World Trade Organisation has said.
Pascal Lamy confirmed the failure, which officials have blamed on China, India and the US failing to agree on import rules.
EU Trade Commissioner Peter Mandelson said the result was "a burial".
The "Doha round" of global trade talks lapsed back into limbo on Tuesday as a ministerial meeting to rescue the round collapsed after nine days of tense negotiations.Sharp divisions between the US, India and China about access to the agricultural markets of the developing world brought the talks to a grinding halt, despite desperate efforts by Pascal Lamy, director-general of the World Trade Organisation, to broker a compromise.The breakdown marks the third summer in a row that a high-profile summit of ministers has fallen apart. Ministers and officials admitted that any substantive progress would now have to wait until a new US president was in the White House.Susan Schwab, US trade representative, said that the US remained committed to the Doha round, which was launched in 2001. "This is not a time to talk about collapse," she said. "The US commitments remain on the table."
The "Doha round" of global trade talks lapsed back into limbo on Tuesday as a ministerial meeting to rescue the round collapsed after nine days of tense negotiations.
Sharp divisions between the US, India and China about access to the agricultural markets of the developing world brought the talks to a grinding halt, despite desperate efforts by Pascal Lamy, director-general of the World Trade Organisation, to broker a compromise.
The breakdown marks the third summer in a row that a high-profile summit of ministers has fallen apart. Ministers and officials admitted that any substantive progress would now have to wait until a new US president was in the White House.
Susan Schwab, US trade representative, said that the US remained committed to the Doha round, which was launched in 2001. "This is not a time to talk about collapse," she said. "The US commitments remain on the table."
Following is a summary of possible specific losers and winners from the failure to move ahead on the round: MANUFACTURERS - Manufacturers in Europe, the United States and other developed economies were frustrated that the latest WTO compromise proposals meant little new export opportunities in fast-growing developing markets. But carmakers might be relieved no deal was done because they feared they could lose out from lower import tariffs in their home countries while India or China could shield their big markets, just as their own carmakers become bigger players. Chemicals and textiles producers in rich countries were seen as possible winners from a deal because developing countries would find it harder to protect those markets. Manufacturers in China and other low-cost exporters would get a boost under a WTO deal because rich country tariffs would fall in areas such as automobiles, textiles and chemicals. But some trade specialists said higher trade flows could trigger more anti-dumping duties and action by rich countries seeking to protect their companies.
Following is a summary of possible specific losers and winners from the failure to move ahead on the round:
MANUFACTURERS - Manufacturers in Europe, the United States and other developed economies were frustrated that the latest WTO compromise proposals meant little new export opportunities in fast-growing developing markets.
But carmakers might be relieved no deal was done because they feared they could lose out from lower import tariffs in their home countries while India or China could shield their big markets, just as their own carmakers become bigger players.
Chemicals and textiles producers in rich countries were seen as possible winners from a deal because developing countries would find it harder to protect those markets.
Manufacturers in China and other low-cost exporters would get a boost under a WTO deal because rich country tariffs would fall in areas such as automobiles, textiles and chemicals.
But some trade specialists said higher trade flows could trigger more anti-dumping duties and action by rich countries seeking to protect their companies.
(etc...)
The Doha round of world trade talks has collapsed in what one former trade chief called the biggest blow to globalisation since the end of the Cold War.An emergency World Trade Organisation summit aimed at resuscitating the seven-year long talks broke down in acrimony last night.Negotiators warned that there was now little or no chance of salvaging the talks, which promised to bring down trade tariffs, pull millions out of poverty and keep food and goods prices under control.
The Doha round of world trade talks has collapsed in what one former trade chief called the biggest blow to globalisation since the end of the Cold War.
An emergency World Trade Organisation summit aimed at resuscitating the seven-year long talks broke down in acrimony last night.
Negotiators warned that there was now little or no chance of salvaging the talks, which promised to bring down trade tariffs, pull millions out of poverty and keep food and goods prices under control.
