Source AP ©

United States is ready to limit trade-distorting farm subsidies


The United States decided to limit trade-distorting farm subsidies to a level between US$13 billion and US$16.4 billion (9.3 billion EUR and 11.74 billion EUR).

Crawford Falconer of New Zealand said Washington made the move contingent on other countries accepting proposed cuts in agricultural tariffs. The U.S. has never said publicly it could accept a cap on payments to American farmers below around US$23 billion (16.46 billion EUR). The question of rich countries' farm subsidies has been a major stumbling block in the WTO's six year effort to liberalize world trade.