Leading industrial nations reacted with resignation on Monday amid recriminations over the failure of the World Trade Organisation to hammer out a formula to reduce tariffs worldwide and establish rules to relax foreign investment limits during six days of talks in Hong Kong.

Max Baucus, ranking Democrat on the US Senate Finance Committee, said while the US had offered significant concessions on agriculture, these had not been met by the US?s trading partners. ?Unless the dynamics of the Doha [trade] round change soon, members of Congress may find it difficult to continue offering their support,? he said.