Friday, March 04, 2005

Cotton

I know about nothing of farm subsidies here in the United States. But this interesting story in which the US has lost another fight in the WTO, this time to Brazil about subsidizing cotton production. And the first thing that came to mind is, what next? Will other products such as milk and corn be the next target? I have a feeling the corn export credits has something to do with it, but I really have no clue. Someone educate me. I just find it strange that we've lost yet another war within the WTO (which we supposedly have enormous pull over, because we pretty much pay for it) this time over subsidies. So exciting. Or not. But it's fairly important to the future of free and fair trade and the United States. The real question may be, are we going to actually follow the WTO's ruling, or just ignore it?

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