US reduces limit for farm subsidies in trade talks
Posted by: ap 1 month, 2 weeks agoGENEVA (AP) _ The United States says it would limit trade-distorting farm subsidies to a lower level of $15 billion a year as part of a global trade deal.
The offer is an improvement from Washington's previous offer of a $16.4 billion limit.
But it is contingent on Brazil, China and India opening up their industrial markets — a key demand of rich countries in the World Trade Organization's seven-year-old negotiations.
U.S. Trade Representative Susan Schwab told reporters of the new offer Tuesday. The world's commercial powers are trying for a breakthrough this week in the trade talks.
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