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Budget Will Impact WTO Talks

Proposal will likely see support from other countries.
Compiled by staff 
Published: Feb 27, 2009

What impact will the President's proposal have on WTO talks? An economist at Truth about Trade and Technology says anything that would reduce payments to farmers in the United States would be looked on favorably by the rest of the world.

"It's what happens next when times get tough," Ross Korves said. "That would spell out the longer-term impact of U.S. domestic farm policy on WTO talks."

U.S. spending on farmers has been one of many points of contention in World Trade Organization talks and trading partners want to see more concessions. Total U.S. crop and dairy subsidies are estimated to total about $7.5 billion this year due to relatively strong crop prices. In 2005, when prices were lower, subsidies were more than $16.4 billion.

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