Doha deal can be clinched by $1 US subsidy cut: Nath

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OXFORD, June 17 (PTI): India has asked the US to cut farm subsidies by just one dollar and New Delhi will come on board for a deal on the Doha round of trade talks which has dragged for seven years.

"My offer to the US is that they should reduce their subsidy by just one dollar and we have a deal," Commerce and Industry Minister Kamal Nath said here yesterday at a conference on globalisation, organised by FICCI and University of Oxford.

But the US has not been forthcoming, Nath said. "They (US) say: forget about reducing the subsidy even by a single dollar, we want to have a right to double it in the next 10 years," he said.

He said the British leadership, both in the government and academia, should try and influence the US administration to be reasonable and agree for removal of "structural flaws" that have marked the World Trade Organisation (WTO) for the last 13 years.