Subsidy Disagreement Blocks Global Trade Accord

Law360, New York (July 24, 2006, 12:00 AM EDT) -- Prominent World Trade Organization members called off talks for a global trade agreement Monday, citing unbridgeable differences over farm subsidies and import tariffs.

“The feeling of frustration, regret and impatience was unanimously expressed by developing countries this afternoon,” said WTO Chief Pascal Lamy.

He did not say when negotiations would resume, but it is unlikely that the group will be able to ratify the Doha global trade round before President Bush’s authority to negotiate free trade deals expires in June 2007.

Bush has authority to prevent...
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