| European Union Trade
Chief Peter Mandelson says World Trade Organization talks in Hong Kong
are moving backwards, as he accused his fellow trade negotiators of
not putting forward any acceptable proposals. Speaking Friday in Hong
Kong, Mandelson said the United States and other wealthy countries must
do more to reduce the export subsidies that distort trade.
But many WTO members accuse the EU of blocking an international trade
deal by refusing to cut farm subsidies that make it more difficult for
poor countries to compete in the international market.
Developing nations at the talks say they will not open their markets
to industrial products unless rich nations agree to eliminate their
domestic farm subsidies. Four days of talks have failed to make progress
on any of the key issues.
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