The WTO Doha round aimed at drastically reducing poverty through settling on a major trade agreement has failed miserably. The US points its finger to the EU and the EU badmouths the US. What makes this failure all the more disappointing is how through the years of discussion, both the US and the EU have brought their biggest ever concessions to the table, yet none of this will be carried through now.

No one country is to blame, since they all wanted different things, but ultimately, the US' "big deal or no deal" mentality was what caused talks to collapse. American farmers stand to benefit from increased foreign market access, which is why they wouldn't budge from doing a big deal. Although it is true that a big deal would have been better than a small one, but they should realise that refusing to do a small deal would be such a loss to the poorer countries. Even with just a small deal, these poorer countries stood to benefit so much, as explained below and it was wrong for the US to have taken that away.

(Also promised already was that rich countries would "give the poorest duty- and quota-free access for most goods" and would "streamline customs procedures", according to the Economist. "Because global trade talks work on the principle that nothing is agreed until everything is agreed, these gains are all at risk.")

That doesn't excuse the EU though, which pathetically failed again to face up to its farmers in a show of "political cowardice", resulting in unwillingness to compromise towards a bigger deal. Nor does it excuse the large developing countries (Brazil, India) - yes, we know you are poorer nations, but trade is all about give and take! As the WTO rightly puts it, "Today, there are only losers."