President Bush offers agricultural subsidy cap to revive Doha round of world trade talks

President Bush pledged to show flexibility on agriculture to revive the Doha round of talks on world trade.

Draft texts issued in July have been the subject of intense negotiations that, if unsuccessful over the remainder of the year, are expected to spell the end for the Doha round. The United States recently offered to cap its total agricultural subsidy at no more than $16.4 billion a year.

US subsidies for ethanol and biodiesel have been criticized by Brazil and the EU.

Brazil’s trade delegation expressed optimism about the US pledge.

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