GENEVA, July 26 (Reuters) – U.S. manufacturers will not back a proposed compromise in world trade talks unless leading developing countries like Brazil, India and China agree to sharply cut tariffs in key industrial sectors, a top industry official said on Saturday.
“If they don’t commit to sectorals, I see no way we can get behind this,” Frank Vargo, vice president of the National Association of Manufacturers, told Reuters one day after a compromise shaped by World Trade Organization Pascal Lamy broke a deadlock in the long-running Doha round.
The compromise plan for cutting overall tariffs in developing countries is “so weak” U.S. manufacturers can only support the package if top emerging markets join in negotiations to slash tariffs to zero in specific sectors such as electronics and industrial machinery, Vargo said.
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