By  on July 23, 2008

GENEVA — The U.S. presented a new conditional offer on Tuesday to cap its farm subsidies at $15 billion, down from an earlier offer of $17 billion, setting the stage for serious haggling in an attempt to reach a breakthrough deal in the Doha Round of global trade talks.

“This is a major move, taken in good faith with an expectation that others will reciprocate and step forward with improved offers in market access,” U.S. Trade Representative Susan Schwab said on the second day of high-level meetings here.

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