US official upbeat on Doha round

The top US agricultural official said yesterday that the Doha round of global trade talks may "see a successful completion" by the end of the year despite warnings from some US lawmakers not to rush into a deal.

Washington is willing to offer a reduction in its allowable level of subsidies, but only in return for increased market access for its exports, Ed Schafer told reporters in Beijing, where he arrived on Tuesday for the two-day Sino-US Strategic Economic Dialogue which begins today.

Lauding China's efforts in the global trade talks, he said: "We in the United States remain confident that we can see a successful completion to the Doha round this year."