Last Chance Saloon at the WTO

♠ Posted by Emmanuel in at 7/29/2008 02:07:00 PM
I have to run but the BBC has a video clip featuring the Indian, Chinese, and European negotiators commenting on what should be the last day at the mini-ministerial in Geneva attempting to salvage a deal. A big sticking point is over the so-called "Special Safeguard Mechanism" (SSM). Should India or other LDCs experience a surge of imports, tariffs can be applied to certain agricultural goods. What is on the table is for this SSM to come into effect given a 40% increase in such imports. India, joined by that other major LDC, China, argues that a 20% increase should be sufficient to trigger the SSM. More in a while...it's going down to the wire.