Geneva: The European Union (EU) said on Monday that it would slash farm tariffs by 60% as part of a new global trade pact, a deeper cut than it has ever offered. EU trade commissioner Peter Mandelson said at the World Trade Organization (WTO) that the offer was meant to kick-start a week of crunch global commerce talks on a new global commerce pact. The 27-nation bloc has previously proposed to cut the tariffs by 54%.