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The EU said it would cut itshighest tariffs on food imports, and cut domestic farm support by 70%, up from 65%, in response to the US move. EU Trade Commissioner Peter Mandelson said all WTO members needed to be open and responsive to world needs. Brazil's Foreign Minister Celso Amorim told reporters that he was not satisfied with the US and EU proposals but that it was a step in the right direction and he hoped that trade talks would continue to progress accordingly.

Currency Day Trading (EUNN) London - The European Union, pressured by foreign trade partners, has agreed to cut sugar subsidies which will lower the EU's guaranteed sugar price 36 percent over the next four years.

Andorra is a member of the EU Customs Union and is treated as an EU member for trade in manufactured goods (no tariffs) EU member for agricultural products.

Financial Software Trading The European Union's agricultural ministers agreed to the cuts after three days of negotiations. The move by the European Commission reduced objections by elevenEU member countriesto three, leaving Greece, Latvia and Poland still objecting to the compromise.

called Doha round of trade talks started in 2001, but stalled, primarily over disagreements on agricultural tariffs and subsidies. day round of world trade talks.

Online Stock Trading Company The move will lower European sugar production, though the EU Commission is offering generous compensation for the lost production. The result of the sugar production drop will mean EU producers will not be dumping sugar on world markets, which WTO member countries, Australia, Brazil and Thailand had objected to.

Although modern Norway enjoys an EU concession which grants it trading privileges as a member of the EFTA ( EU members Iceland, Switzerland and Liechenstein), it continues to remain outside the EU and has so far refused to compromise its position on fishing, whaling and other economic issues. While a majority of Norwegian voters remain adverse to taking directives from Brussels and hope to maintain their internal controls and subsidies, believe that Norway cannot remain forever isolated from the larger world economy.

Forex Day Trading Australia has signaled that it may be increasing sugar crop production acreage as a result of the European Union's decision.

There is a strong possibility that the Trade Balance figure may surprise on the upside, as the weak greenback has boosted U.S exports.

Financial In Market The UK Industrial Sugar Users Group yesterday deplored last-minute concessions that would still leave the EU price about double that in the rest of the world."This deal takes the easy way out by simply dumping increased compensation costs on consumers and industrial users," it said.

Stock Trading System The European Union's agricultural commission believes the sugar move will give the EU Commission more bargaining power at next month's WTO meeting in Hong Kong. Mariann Fischer Boel, the EU's agriculture commissioner said yesterday, "If we didn't have a proposal in the pocket, we would have nothing to defend."

Day Trading Stock Tip The European Union is under worldwide pressure to reduce its agriculture subsidies, which are widely blamed for contributing to a collapse in global trade negotiations known as the Doha round.

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