Reuters writer Raymond Colitt reported yesterday that, “The U.S. government is more confident of achieving success in the Doha round of global trade talks after meeting with Brazilian government officials, White House economic adviser Allan Hubbard said on Thursday…’The Brazilians indicated they are as committed as we are to make Doha work,’ Hubbard told Reuters. ‘They recognized how important this is not only to their economy but to the world economy.’”
II. Farm Bill
III. Biofuels – Commodities
Tim Colebatch, writing this morning at The Age Online (Australia), reminded readers of some recent developments in the Doha round of WTO trade talks with this brief summary: “The troubled Doha Round trade negotiations have hit a potentially fatal bump, after 110 developing countries united in rejecting a draft text requiring sharp cuts to their manufacturing tariffs.
“In a joint submission to the chairman of the talks on manufacturing tariffs, Don Stephenson of Canada, the majority of the World Trade Organisation’s members proposed 14 principles that amounted to a blunt rejection of his draft text requiring them to make significant tariff cuts.
“In an unexpectedly sharp reaction, the Bush Administration — now under pressure at home to protect its farm subsidies — issued a statement warning that ‘this proposal could signal the end of the Doha Round’”.