January 28, 2020

Doha: If Talks Fail, “The Lawyers Will Have a Field Day”

Categories: Doha / Trade /EU

Additional news regarding the Doha round of W.T.O. trade talks has been posted at the German Marshall Fund’s Trade & Development webpage, for complete details, just click here.


Doha- “U.S. and EU Appear to be Within ‘Spitting Distance’ of an Agreement.”

I. Budget
II. Renewable Fuels- Post State of the Union
III. Doha
IV. Farm Bill

I. Budget

Yesterday, the Congressional Budget Office (C.B.O.) released a report entitled, “The Budget and Economic Outlook: Fiscal Years 2008 to 2017.” The report highlighted the projected growth of the U.S. economy and federal spending for major mandatory programs for the next ten years.

On page 60 of the report, C.B.O. noted that, “[Commodity Credit Corporation] CCC outlays to agricultural producers came to $18 billion in 2006, after varying between $9 billion and $31billion in the preceding six years. CBO estimates that those outlays will fall to $10 billion in 2007 and will range between $8 billion and $10 billion over the next decade. The reduction in 2007 primarily reflects lower income-support payments to farmers because of historically high crop prices, which are attributable in part to the strong market demand for ethanol. Following directions established by the Deficit Control Act, CBO’s baseline assumes that most major farm programs, which are scheduled to expire in 2007, will continue over the 2008–2017 period.” (Table 3-6 on page 66 of the report provides specific estimates for CCC outlays.)