Doha round fails (again)

The current Doha round of trade talks at the WTO, which formally started in 2001 – has again failed to reach agreement.

India, China and the US could not agree on the import tariff threshold on foodstuffs – which is fundamental to making this work – and the talks have collapsed without agreement.

This is a tragedy for those developing countries desperately trying to access first-world markets and means we will pay more for certain goods also. Of course, none of this comes as a surprise, let’s face it, we’ve got plenty of previous form in this area.

Another lost opportunity for progress.

UPDATE: The estimable Tim Worstall comments at the Spectator


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