July 29
(Reuters)
- Talks to rescue a world trade deal collapsed on Tuesday, officials said.
The breakdown came as the United States and India failed to find a compromise on measures intended to help poor countries protect their farmers against import surges, a diplomat said.
Following is a summary of possible specific losers and winners from the failure to move ahead on the round:
MANUFACTURERS - Manufacturers in Europe, the United States and other developed economies were frustrated that the latest WTO compromise proposals meant little new export opportunities in fast-growing developing markets.
But carmakers might be relieved no deal was done because they feared they could lose out from lower import tariffs in their home countries while India or China could shield their big markets, just as their own carmakers become bigger players.
Chemicals and textiles producers in rich countries were seen as possible winners from a deal because developing countries would find it harder to protect those markets.
Manufacturers in China and other low-cost exporters would get a boost under a WTO deal because rich country tariffs would fall in areas such as automobiles, textiles and chemicals.
But some trade specialists said higher trade flows could trigger more anti-dumping duties and action by rich countries seeking to protect their companies.
SERVICES - Telecoms operators, banks, insurance companies and other service providers were hoping for a deal on the Doha round's core elements of agriculture and industrial goods in order to wrap up a final deal also covering services.
Representatives of the services sector hailed signs that countries were willing to make long-awaited moves on services, including a willingness by the United States and the EU to give more temporary visas for IT experts and other foreign professionals and by some developing countries that they were willing to relax restrictions on foreign investors. Progress in turning those signals into concrete offers is now on hold.
AGRICULTURE - Some specific farming groups in rich countries are likely to breathe a sigh of relief that the prospects of a WTO deal have weakened.
U.S. cotton ranchers, Irish beef farmers, South Korean rice growers and French poultry producers were also vocal in their opposition to a deal which would have led to lower tariffs or subsidies that protect them against foreign competition.
But the failure of the talks was a blow for farmers in the United States and in some developing countries such as Paraguay and Uruguay. They had hoped for new markets for their products, especially in the huge markets of developing heavyweights.
BANANAS - Ecuador, Costa Rica and other Latin American countries stand to lose a new deal with the EU which would have seen the bloc's import tariffs on their bananas fall sharply. That bilateral agreement was linked to a broader WTO deal.
Rival exporters in West Africa and the Caribbean whose bananas pay no EU import tariff, plus some small producers in the French territories of Guadeloupe and Martinique and Spain's Canary Islands, were deeply opposed to the EU-Latin America banana deal struck over the weekend.
Provided by Reuters
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Winners_Losers_After_WTO_Talks.htm
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