The United States and Brazil, both of which are key players of the international trade talks, said that they still hoped a deal could be made in the succeeding months. A week ago, the last of a series of attempts to revive the Doha Development Round of trade talks failed due to the unsettled trade disputes among the members of the World Trade Organization (WTO). The international trade bloc was supposed to come up with an outline of a global deal last July. However, no significant progress was made due to disagreements on the cutting of farm subsidies and import tariffs.The recent comments from the two countries though are important considering the role of the US and Brazil in the international trade talks. On one hand, the US is seen as impeding a potential deal regarding the reduction of agricultural subsidies. On the other hand, Brazil heads a large group of developing countries. According to the two parties, an agreement could be made within 5 to 7 months.American and Brazilian negotiators have already met several times in Rio de Janeiro in an effort to revive the international trade talks. US Trade Representative Susan Schwab commented that both the US and… Read full this story
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