Time to End Farmers Welfare

    Farm subsidies, or agriculture subsidies, are subsidies paid to farms and agricultural businesses to supplement their income, manage the supply of agricultural commodities such as wheat, rice, milk, sugar, soybeans, and influence their cost & supply. The U.S. pays $20 billion/year in direct subsidies as “farmers’ welfare” based on a farm bill that dates back to the Great Depression-era. Many recipients of this “farmers’ welfare” | Read More »

    The Protectionists Smell Blood

    This is a disaster: The Doha round of global trade talks, now in its seventh year, broke up without agreement yesterday after nine days of tense negotiations. Divisions between the US, India and China about access to the agricultural markets of the developing world could not be overcome and the talks ground to a halt, scuppering efforts by Pascal Lamy, director-general of the World Trade | Read More »

    Baby Steps

    In the current round of Doha trade negotiations, the United States has made a positive gesture concerning agricultural subsidies: 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 | Read More »