EU to cut farm tariffs

As a part of new global pact the European Union offered to cut the farm tariff’s by 60% and it is one of the highest cuts offered by the Union. Initially 27 nations union offered to cut farm tariffs by 54 % but the cuts of 60% were sanctioned finally.

The European Union’s declaration came up as a new start to the global economies and the union also said that it expected similar subsidized offers on farm products from emerging economies of India and China.