Cuts would hit EU food and farm sectors worst
The ill-fated talks had picked up momentum last weekend after the EU offered to slash its payments to farmers by 80%, and allow its maximum subsidy threshold fall to €24 billion. Japan and the US offered to cut trade-distorting domestic support by up to 70%.
Other developed countries would have cut support by 50 to 60%. These cuts would be implemented within five years. They only refer to trade-distorting subsidies linked to price or production, not to payments, such as those to protect the environment.
