THE UNITED STATES IS PREPARED TO ACCEPT DEEPER FARM SUBSIDY CUTS IN WORLD TRADE TALKS IF THE EUROPEAN UNION AND OTHERS DO AN "AN AWFUL LOT MORE" TO OPEN THEIR MARKETS TO IMPORTED FARM AND MANUFACTURED GOODS, THE TOP U.S. TRADE OFFICIAL SAID ON MONDAY. "WE'D LIKE TO SEE A BREAKTHROUGH THIS WEEK IN AGRICULTURE AND IN INDUSTRIAL GOODS," U.S. TRADE REPRESENTATIVE SUSAN SCHWAB TOLD REUTERS BEFORE HEADING TO GENEVA FOR A POTENTIALLY MAKE-OR-BREAK SESSION IN WORLD TRADE ORGANIZATION TALKS LAUNCHED MORE THAN FOUR YEARS AGO. WITH TALKS AT CRITICAL JUNCTURE, NEGOTIATORS NEED "TO STRETCH A LITTLE BIT" TO CLOSE A DEAL THAT PROVIDES SUBSTANTIAL NEW TRADE OPPORTUNITIES AROUND THE GLOBE, SCHWAB SAID. A U.S. PROPOSAL TO CUT ITS OVERALL ALLOWANCE FOR TRADE-DISTORTING FARM SUBSIDIES BY 53 PERCENT "HAS NEVER BEEN A TAKE-IT OR LEAVE-IT OFFER," BUT GOING BEYOND THAT LEVEL WOULD REQUIRE THE EU AND MAJOR DEVELOPING COUNTRIES TO OFFER MUCH DEEPER TARIFF CUTS, SCHWAB SAID. "UNTIL WE SEE AN AWFUL LOT MORE MARKET ACCESS ON THE TABLE, IT'S HARD TO BE TALKING ABOUT ADJUSTMENTS THAT WE MIGHT MAKE IN OUR OFFER" ON DOMESTIC SUBSIDIES, SCHWAB SAID. MINISTERS FROM MORE THAN 50 COUNTRIES, A THIRD OF THE WORLD TRADE ORGANIZATION MEMBERSHIP, WILL BE IN GENEVA THROUGH THE WEEKEND SEEKING A BREAKTHROUGH IN THE KEY AREAS OF FARM AND INDUSTRIAL GOODS WHERE DIVISIONS RUN DEEP. A WIDELY EXPECTED TRADE-OFF WOULD INVOLVE THE UNITED STATES OFFERING FURTHER CONCESSIONS ON FARM SUBSIDIES, THE EUROPEAN UNION ON FARM TARIFFS AND ADVANCED DEVELOPING COUNTRIES LIKE BRAZIL AND INDIA ON DUTIES ON MANUFACTURING GOODS. SCHWAB SAID SHE WOULD PUSH OTHERS TO AIM HIGH, RATHER THAN REACH JUST ANY AGREEMENT TO BRING THE TALKS TO A CLOSE. --MORE 26/06/2006 23:11 ت م
