| Export
subsidies cost the EU several billion dollars a year. Critics
argue they encourage Europe's farmers to
dump produce on world markets. Developing countries say that
drives down prices, hitting the incomes of farmers. So the EU's
offer to eliminate the subsidy was
almost universally welcomed. In return, it wants the US to make
similar moves and for other nations to cut tariffs
and increase quotas to provide more
access for EU goods.
That is what Trade Ministers from around the world will be considering
at a series of meetings in Paris. As they're not full World Trade
Organisation or WTO meetings, no deal
can be agreed. But with key countries represented, the
hope is for some indication of whether progress can be made.
But time is running out. The WTO has set a deadline of July for
ministers to agree upon an outline deal, aware that after that,
the US will be focused upon forthcoming
elections: and some fear if this window
of opportunity is missed it could be months and possibly
years before another trade deal can be done.
|
|
|
|
subsidies: monies paid by a government
to help a company or public service
to dump: to put something somewhere
carelessly
eliminate: completely remove
tariffs: taxes on goods coming
into a country
quotas: the required, or allowed
quantity of something
goods: products
deal: agreement, arrangement
focused upon: concentrating
on
window of opportunity: passing
moment of possibilty
|
