WORLD TRADE DEAL 'ON KNIFE EDGE' !

Mr Mandelson has urged President Bush to push for a trade deal. World trade talks are on a "knife edge" European Trade Commissioner Peter Mandelson has told the Times.
Despite talks breaking down last year Mr Mandelson said he had not given up hope of agreement on a deal.
Ahead of talks in the US, Mr Mandelson said he would push President Bush to get "personally involved" in efforts to agree a global deal.
Disagreement over agriculture caused the Doha talks to be suspended in Geneva last year.
Brussels blamed US inflexibility, while the US said Europe failed to match its promises in opening up its markets.
"We are on a knife's edge. We have to engage President Bush personally, because this deal can only be done with his authority," Mr Mandelson told the Times.
Looming deadline
Pressure to reach a deal has been mounting, as US President George W Bush's special "fast-track" authority to negotiate trade deals expires this year.
After 30 June 2007, Trade Promotion Authority will expire, giving the US Congress the right once again to change such agreements.
At the talks, Mr Mandelson will push for the President's mandate to be extended and for the US to cut the $20bn it gives to farmers in subsidies - in return Europe is expected to offer further reductions in its trade tariffs.
If the US fails to reach a deal on subsidies and the White House mandate, trade talks risk being suspended for up to five years, Mr Mandelson added.
However, he told the Financial Times he was hopeful of making progress when he and European Commission President Jose Manuel Barroso meet President Bush and US Trade Representative Susan Schwab in Washington.
"After a series of meetings of senior officials, it is clear that the gap between us is no longer such as to dismiss hope of a successful outcome.
"We are not that far apart to give up on the process."
The Washington meeting comes as Southeast Asian leaders gather for the second round of their postponed annual summit.
Trade will be high on the agenda for the leaders of the 16 ASEAN member nations, as well as agreements on energy and counter terrorism measures.

BBC NEWS REPORT.