Bush risks losing trade powers after talks collapse

0 Comments | AFP, June, 2007

WASHINGTON (AFP) — US President George W. Bush risks losing his special trade negotiating powers after talks between four key players in the World Trade Organization collapsed this week, analysts said.

Progress in the talks, which collapsed Thursday in Potsdam, Germany, would have helped Bush secure from the Democratic-led Congress the renewal of his so-called "fast-track" authority, which expires on June 30, analysts said.

The talks between the so-called "G4" in the World Trade Organization -- the European Union, the United States, Brazil and India -- broke down over farm subsidies and open markets.

"We really wanted a breakthrough (at Potsdam) to help gain some traction in terms of convincing Congress to deliver trade promotion authority," said US Trade...