| The United States and Brazil, both of which | | | | capital. It has been aimed at tearing down |
| are key players of the international trade | | | | trade barriers in order to promote trade |
| talks, said that they still hoped a deal | | | | liberalization and to boost the global |
| could be made in the succeeding months. A | | | | economy, as well as the respective economies |
| week ago, the last of a series of attempts to | | | | of nations particularly the poorer countries. |
| revive the Doha Development Round of trade | | | | However, after 5 years of negotiations, the |
| talks failed due to the unsettled trade | | | | International Trade talks have been suspended |
| disputes among the members of the World Trade | | | | last week due to disputes on farm subsidies |
| Organization (WTO). The international trade | | | | and tariffs.Both the United States and the |
| bloc was supposed to come up with an outline | | | | European Union blamed each other for the |
| of a global deal last July. However, no | | | | delay. On one hand, the US accused the EU of |
| significant progress was made due to | | | | failing to equal the former's offer during |
| disagreements on the cutting of farm | | | | the negotiations. On the other hand, the EU |
| subsidies and import tariffs.The recent | | | | blamed the US for being inflexible. |
| comments from the two countries though are | | | | Particularly, it criticized the US for |
| important considering the role of the US and | | | | refusing to further cut its agricultural |
| Brazil in the international trade talks. On | | | | subsidies. Other developing nations have also |
| one hand, the US is seen as impeding a | | | | seen the US as a major factor blocking an |
| potential deal regarding the reduction of | | | | international trade deal.During their |
| agricultural subsidies. On the other hand, | | | | meetings, both the US and Brazil committed |
| Brazil heads a large group of developing | | | | themselves in helping to resolve the trade |
| countries. According to the two parties, an | | | | disputes impeding the progress of the |
| agreement could be made within 5 to 7 | | | | international trade talks. Needless to say, |
| months.American and Brazilian negotiators | | | | both countries said that any deal would |
| have already met several times in Rio de | | | | require the collective effort of the members |
| Janeiro in an effort to revive the | | | | of the global trade bloc. WTO nations believe |
| international trade talks. US Trade | | | | that global free trade deals can boost the |
| Representative Susan Schwab commented that | | | | world economy, as well as their respective |
| both the US and Brazil were leaders in the | | | | economy. However, they find it hard to make a |
| attempts to break the deadlock at the Doha | | | | decision at the Doha round of talks due to |
| Development Round of trade talks. According | | | | political factors and pressures from local |
| to her, the meeting between the two parties | | | | industries and manufacturers. It must be |
| marked the start of a process, which was | | | | noted that the WTO is also rushing with the |
| expected to be backed by the other members of | | | | global trade deal before the negotiating |
| the WTO.The Doha Development Round of trade | | | | authority of US President George W. Bush ends |
| talks was launched in 2001 at the Qatari | | | | in 2007. |