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May 02, 2007
Plenty of space under the subsidy ceiling
The Bush administration is taking heat from WTO negotiators for standing by its October 2005 proposal to limit its farm subsidies to $22 billion, as it only paid about $15 billion in subsidies last year. With that much room to spare, the US could easily make a more generous offer in an attempt to restart the WTO negotiations. On the other hand, trading partners are well aware that the first $7 billion in cuts offered by the US won't actually improve their lot.
Posted by Dingel at May 2, 2007 07:27 PM