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Free Trade Fact of the Day

Posted By Conn Carroll On May 15, 2008 @ 2:09 pm In International | Comments Disabled

The farm bill is onerous enough just from a federal spending/government dependency perspective, but even worse it hurts United states efforts to promote free trade abroad. Reuters explains [1]:

The $285 billion farm bill unveiled by Congressional leaders last week after months of negotiations may set the United States up for a hornet’s nest of problems at the World Trade Organization.

If the plan for a massive new U.S. agriculture law is passed this week as expected, lawmakers face a promised veto from President George W. Bush. The White House says the bill does not sufficiently cut subsidies to wealthy farmers and ignores other reforms proposed by the administration.

Agriculture officials say measures that could bring problems at the World Trade Organization include: rules benefiting U.S. sugar producers, a $4-billion standby disaster fund and a new cotton incentive similar to one the world trade court already has ruled illegal.

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URL to article: http://blog.heritage.org/2008/05/15/free-trade-fact-of-the-day-50/

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[1] explains: http://www.reuters.com/article/newsOne/idUSN0953063020080511

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