EU ramps up farm subsidies
Yow!
"The latest official notification to the WTO shows that total EU support levels have returned to levels not seen since the previous decade, with €90.7 billion of support being reported to the global trade body for 2006/2007 - up from €75.6 billion in 2002, when support was at its lowest in the last fifteen years." Extract from ICTSDSo-called 'Green' box subsidies were growing dramatically (see the graph) in 2006/7 as the more distorting 'Amber' and 'Blue' box spend declined. There's no WTO constraint on the total farm subsidy spend, only only spending in a trade-distorting way, essentially by manipulating prices using taxes, quotas or import restrictions.
Posted on 02/11 at 08:45 AM.
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