Consequences of Doha’s Failure

By October 11, 2007Trade

From Reuters:

WASHINGTON (Reuters) – World trade talks could be headed for failure if advanced developing countries like Brazil and India balk at opening their markets to more foreign manufactured goods, U.S. industry officials said on Wednesday.

“When you have a group of countries that say we don’t want to liberalize, how can you move ahead?” said Frank Vargo, vice president for international economic affairs at the National Association of Manufacturers. “If they persist in this direction, it could be the end of the Doha round.”

Vargo’s comment echoed those U.S. trade officials made on Tuesday, after major developing countries outlined a proposal that would give the United States and other rich countries few, if any, new export opportunities in exchange for cutting their farm subsidies and tariffs.

More on this later…

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