EU makes new offer to slash farming tariffs
28/10/2005 - 12:26:52The European Union today offered to reduce average agricultural tariffs by 47%, its steepest ever farm tariff cuts, in a proposal aimed at breaking world trade talks deadlock.
The EU said it would reduce the highest tariff rates by 60% and eliminate all subsidies for farm exports if trading partners made similar moves at a World Trade Organisation meeting in December.
The EU did not say when the cuts would take effect, and French reaction to the offer was key after the nation warned that it would veto any deal that made too many concessions on agriculture.
