US Agriculture Secretary Mike Johanns said on Wednesday that the Bush administration is serious about cutting farm subsidies and has asked the US Congress to kill a cotton subsidy program that was ruled illegal by the World Trade Organization (WTO).

"We have been saying all along we're very anxious to get a reform-oriented WTO round," Johanns told reporters. "We believe that our farmers and ranchers can compete with anybody in the world."

"Let's move together, and let's eliminate subsidies. We're ready to do that," Johanns said.

US President George W. Bush, who is attending a summit with leaders of Group of Eight countries in Britain, also said that Europe and the US should agree jointly to abolish subsidies through current WTO negotiations.

Farm subsidies are critical in the current round of WTO talks. Developing nations have called the rich countries to cut farm subsidies to allow competition from farmers in poor countries.

Source: Xinhua