World’s Biggest Economic Players Vow to Boost Global Trade
U.S. Trade Representative Michael Froman, right, gestures as he talks with EU Trade Commissioner Karel De Gucht, prior to a session at the World Economic Forum in Davos, Switzerland, Saturday, Jan. 25, 2014. Global leaders argued Friday that efforts to eradicate poverty must be linked to climate change, saying that rising temperatures will have widespread effects on everything from food supplies to education. (AP Photo/Michel Euler)
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DAVOS, Switzerland— Trade ministers from many of the world’s biggest economies vowed to broaden a deal to boost global trade Saturday, with the U.S. saying nothing is off-limits for discussion.
At a Swiss-hosted meeting on the sidelines of the World Economic Forum, ministers from China, the European Union, Japan, the U.S. and 15 other nations agreed to build on the “positive momentum” of a World Trade Organization summit last December in Bali where the organization’s 159 member economies agreed to cut customs red tape.
The ministers agreed to address the most difficult remaining negotiating topics of agriculture, market access and services that eluded an agreement last month in the first WTO deal since the global trade body was formed in 1995, said Swiss Economics Minister Johann Schneider-Ammann, who hosted the meeting.