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Wed 07 Jul 2008US offers $2bn subsidy cut at WTO talks
THE US made the first significant move in this week's fraught meeting of trade ministers in Geneva yesterday, cutting its proposed ceiling for farm subsidies to $15 billion (€9.46 billion) a year.
The move would reduce those US farm subsidies deemed to distort international trade by about $2 billion compared with the current offer in the so-called "Doha round" of trade talks, much lower than the present ceiling of about $48 billion.
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