Agricultural Dispute Derails Global Trade Talks
By Associated Press | July 29, 2008
GENEVA — Trade officials say a high-level summit to salvage a global trade pact has collapsed, after America, China, and India failed to compromise on farm import rules.
Trade officials from a rich and an emerging country told The Associated Press that a meeting of seven commercial powers collapsed at the World Trade Organization today. The officials have asked for anonymity because the news was soon to be announced to a larger meeting of countries.
They say the American dispute with China and India over farm import safeguards had effectively ended any hope of a breakthrough.
Negotiators were hoping for a deal this week on farm and industrial trade, so that crisis-ridden WTO talks could be saved.
