55A second approach would be to favour multilateral or critical mass agreements. If the consensus among all WTO members is too difficult, this approach indicates that nothing should prevent a coalition of voluntary countries from moving forward and agreeing among themselves on selected topics. Multilateral agreements are not new to the WTO and there are several precedents, starting with the Public Procurement Agreement or the Information Technology Agreement (ITA). In a number of areas, including services, negotiations on environmental goods are already underway between 14 WTO members, including the United States, the EU and China – which account for 86% of world trade in environmental goods. A critical aspect of these approaches is to ensure that they remain under the aegis of the WTO, that they are transparent and open to newcomers. If the benefits are extended to non-members on the basis of the Most Favoured Nation (MFN), as would probably be the case with agreements with critical masses such as ITA, environmental goods and TISA, these approaches will ultimately help strengthen the multilateral trading system. An important first step in the transposition was set for 31 WTO members would then begin to consider a post-Bali agenda, which would include the development of a work programme by the end of 2014 for the conclusion of the Doha Round. As one of the world`s largest trading countries, both for agricultural and non-agricultural products, the United States is very interested in negotiating trade rules and disciplines. The U.S. Congress will continue to try to influence and monitor ongoing negotiations on trade agreements, including multilateral WTO negotiations, to ensure that U.S. interests in agriculture, the food industry and consumers are reflected in their outcomes.
27The fixed external reference price is based on the years 1986 to 1988 for each product. If the administered price is less than the reference price, the amount of the subsidy is considered zero. To date, most product-specific media have remained well below the permitted maximum level of 10% of the value of production.