The US on Tuesday made the first significant move in this week’s politically fraught meeting of trade ministers in Geneva, cutting its proposed ceiling for farm subsidies to $15bn a year.

The move would reduce US farm subsidies deemed to distort inter­national trade by about $2bn (€1.3bn, £1bn) compared with the current offer in the so-called “Doha round” of trade talks, much lower than the present ceiling of about $48bn.