June 21,2007

Baucus Applauds Schwab’s Strong Stance As Doha Trade Talks Break Down

Finance Chairman reiterates that no deal is better than a bad deal for America’s ranchers and farmers

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Montana) expressed firm support for U.S. Trade Representative Susan Schwab’s decision to walk away from a bad deal in the World Trade Organization (WTO) Doha negotiations today. Ministers from the G-4 countries (the United States, European Union, India, and Brazil) cut off an intensive round of negotiations today in Potsdam, Germany after India and Brazil refused to offer meaningful access to their agricultural, industrial, and services markets.

“I have repeatedly emphad that no deal on Doha is far better than a bad deal for America’s ranchers and farmers,” Baucus said. “I applaud Ambassador Schwab for heeding this advice. India and Brazil offered nothing of substance to U.S. farmers, ranchers, manufacturers, and services suppliers. I will not support a Doha deal that does not provide meaningful market access to our exporters.”

The Doha round of WTO negotiations previously collapsed in July 2006. Despite Ambassador Schwab’s persistent efforts, talks have remained stalled over the unwillingness of key trading partners to commit to improve access to their agriculture, industrial, and services markets. The past eight rounds of multilateral negotiations have helped world trade grow from $58 billion in 1947 to $10.4 trillion today. Without comprehensive new market access commitments, the Doha Round will not succeed in matching the benefits from previous multilateral negotiations.

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