The international trade talks - originally designed to give developing countries a better deal - are still in stalemate according to the Financial Express. The US is still taking an uncompromising stance according to Reuters with the Senate insisting on tit-for-tat concessions all along the line.
Comment: while one applauds President Bush's pledge that the US would abolish all agriculture subsidies if other countries did the same, the actual tance is that the US , and other rich nations, are insisting that developing countries get rid of industrial tariffs (which some can ill-afford to do at this stage of their development) as a quid pro quo. He should be reminded that this was supposed to be a round of development talks to help poor countries. The existence of agriculture subsidies - whereby rich countries bribe their farmers to produce food that could be more economically done by developing countries - is an economic evil that benefits no one. It should be got rid of without pre-conditions and everyone would benefit. Rich countries could spend more tax revenues on more productive things and poor countries could produce crops currently made uneconomic by the subsidies of rich countries.