Posted AT 7:53 PM EST on 29/07/08
India nixes WTO deal to cut tariffs
WASHINGTON — Sending a powerful message to the world's richest countries, India has rejected a long-sought deal to cut global trade barriers on the grounds that it wouldn't have protected poor farmers.
The deal fell apart in Geneva yesterday after India, one of the new standard bearers of an emboldened developing world, balked at U.S. demands that countries limit emergency tariffs to shield their farmers from sudden import surges.
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