U.S. trade officials say that despite the collapse of international trade talks in Cancun, Mexico, the U.S. government remains committed to international trade agreements. Robert Zoellick, the U.S. Trade Representative, states that the lesson to be learned from the failure of negotiations in Mexico is to work instead of just making slogans and to continue efforts. He mentioned that the U.S. will continue to enter into bilateral trade agreements with countries, both directly and through the World Trade Organization. The World Trade Organization conference, which was supposed to last five days in Mexico, collapsed abruptly yesterday, and no compromise was reached on trade subsidies. The halt in negotiations has weakened hopes that member countries would reach a global trade framework by the end of the next calendar year.
The U.S. Government Remains Committed to International Trade Agreements - 2003-09-15
U.S. trade officials reaffirm commitment to international trade agreements following the collapse of talks in Cancun, Mexico. Robert Zoellick emphasizes the need for continued efforts rather than slogans. The failure of negotiations diminishes hopes for a global trade framework by the end of next year.
👥 Key Players
📰 What Happened
U.S. trade officials reaffirmed their commitment to international trade agreements following the collapse of trade talks in Cancun, Mexico. Robert Zoellick emphasized the need for continued efforts to achieve trade agreements despite the setback.
- The WTO conference in Cancun failed to reach a compromise on trade subsidies.
- The collapse of negotiations has diminished hopes for a global trade framework by the end of next year.
💡 Why It Matters
📚 Background
International trade agreements are essential for facilitating global commerce and economic growth. The WTO plays a key role in mediating these agreements.
🏷️ Entities Mentioned
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