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Doha Review: New U.S. Offer, Food Inflation (Biofuels) and the CRP
Doha
Alan Beattie reported earlier this week at the Financial Times Online that, “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.
“But it would be comfortably above the US’s recent real spending in trade-distorting farm support, estimated at $7bn-$9bn a year.”
Posted by Keith Good • July, 24, 2008 • 4:23 am 