High-ranking officials representing 46 countries including the US, China and European Union nations have failed to agree on a list of "environmental goods" like solar-powered air conditioners or LED light bulbs that could be targeted for lower tariffs.
The two-day meeting at World Trade Organization involved a bid to agree on reducing tariffs on over 200 environment-friendly goods worth more than USD 1 trillion in trade annually.
Diplomats cited troubles over Chinese demands on many goods including bicycles, and disagreements over sustainable-development lumber between Canada and New Zealand on one side and Japan and Taiwan on another.
Any agreement would only be a first step. The incoming administration of US president-elect Donald Trump is expected to have important say on the final contours of the Environmental Goods Agreement.
Disclaimer: No Business Standard Journalist was involved in creation of this content
