Jun

4

Emerging economies slam new US farm bill at WTO

Filed Under General | Posted By Jennifer Sullivan |

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India, Brazil, and other developing countries said that the new US farm bill will be hindrance to global trade talks determined at raising millions worldwide out of poverty.

A group of 20 developing nations also including China, Mexico and Argentina echoed criticism by WTO chief Pascal Lamy, who last week said the new US farm bill showed a wrong signal to the world while talks on a new global trade deal were going on.

The emerging countries said the “new bill looks agriculture policies in the wrong direction at a decisive juncture of the WTO Doha Round,” referred to the trade talks.

The US Congress last month passed a bill that has given huge subsidies to US farmers and more food stamps to help the poor buy food as the rates of grocery prices rise.

The 20 countries in a joint statement said the trade talks should bring important reductions in trade-distorting subsidies in developed countries to raise agricultural trade and promote development.

“The 2008 Farm Bill not only runs counter the long-term process of reform in agriculture,” it said, adding that it increases the competition between rich nations and farmers in poor developing countries.



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