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Bali: Chances of a breakthrough in global trade negotiations dimmed as India refused to budge on food subsidies that are an obstacle to an eleventh hour agreement at a WTO summit.
U.S. Trade Representative Michael Froman on Wednesday urged the World Trade Organization’s 159 member economies to work past their differences to finalize a slimmed-down deal to boost trade. [caption id=“attachment_1265781” align=“alignleft” width=“380”]  Representational image. Getty[/caption] But Indian Trade Minister Anand Sharma left little hope for a breakthrough. His government opposes a provision that could endanger subsidies for grains under an Indian policy to feed its poor. The talks on Indonesia’s resort island of Bali will either produce a deal that could boost global trade by $1 trillion or possibly spell the end of the WTO’s relevance as a forum for negotiations after a decade of inertia. AP
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