Top > Business > 2005 > October > 2005-10-30

E.U. offer falls on deaf ears

An eagerly awaited European Union offer to open its agricultural markets drew a dismissive reaction from the United States and other countries yesterday, dashing hopes for revitalizing global trade negotiations. The E.U. offered to cut tariff rates on its farm products by an average 46 percent -- from 22.8 percent to 12.2 percent -- if other countries take similar measures.

"Overall, we`re disappointed," said Rob Portman, the U.S. Trade representative, after a video-conference call in which Mandelson presented his offer to trade ministers from Brazil, India and Australia.

Several trade experts said that yesterday`s developments virtually ensure that the Doha round will achieve modest results at best. Brazil`s foreign minister, Celso Amorim, said at a news conference in Brasilia that the European offer was "insufficient," and an Australian official used similar language.