August 22, 2006

Australia rejects US call to end wheat export monopoly

Australia's trade minister has rejected a US request to break up its wheat export monopoly AWB as part of trade liberalisation talks.

US Agriculture Secretary Mike Johanns last week urged Australia to end the wheat export monopoly, The Weekend Australian newspaper said Saturday (Aug 19).

This follows the fracas after talks between the US and EU fell through after both failed to agree on the issue of farm subsidies, long a thorny issue in WTO trade talks.

The EU has accused Australia of siding with the US during trade talks.

It has also launched a vituperative attack on the US for its stance on agricultural subsidies, inviting a counter attack from the latter blaming the EU for refusing to budge on farm import tariffs.