EU offers 60 percent cut in farm tariffs

The European Union (EU) has offered to cut its farm tariffs by 60% to kick-start trade talks in Geneva.

EU trade commissioner Peter Mandelson said this was the best offer yet from Brussels on the crucial farming issue.

Mr Mandelson urged emerging economies such as Brazil, India and China to reciprocate by slashing their industrial tariffs.

Meanwhile, the US trade chief vowed to help make the talks succeed if emerging nations made a contribution.

Rich versus poor

"When it comes to trade negotiations, the vast overwhelming contribution has to come from market liberalisation rather than the subsidy side," US trade representative Susan Schwab said.

Richer nations, such as the US and the EU, are demanding better access in developing markets, for their manufacturers and banks.

But Brazil's foreign minister Celso Amorim said emerging economies, such as China, India and Brazil, were already offering substantial concessions and that developed countries should not expect too much.