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WTO Loses Push for Cheaper Food

Posted July 25, 2008

“Time and again, discussion has been derailed by the reluctance of wealthier countries to reduce government farming subsidies, and the unwillingness of poorer countries to open their markets to U.S. goods and services.” — Jason Simpkins

Blogger’s note: Right now, everyone would be happy to see cheaper food prices at their local supermarkets. The WTO has been trying to negotiate a deal to make agricultural products (you know, those things that food is made out of) less expensive around the globe for the last eight years. But stubborn and implacable governments are making that goal very difficult. Will the WTO ever convince the world to make cheaper food a reality? Read on below to learn the answer.

by Jason Simpkins

Baltimore — (TFN):  For seven years, the Doha Development Round has been the staging ground for the World Trade Organization’s push for liberalizing global agricultural trade, but if this week’s round of discussion in Geneva, Switzerland is any indication, a global trade deal is nothing more than a pipe dream.

The Doha round of global trade negotiations began in November 2001, with the goal of liberalizing agricultural trade and encouraging growth. The World Bank estimates that a deal would add $100 billion a year to a weakening global economy, while others say an international compromise would stabilize food markets, lower tariffs, and spur food production.

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However, time and again discussion has been derailed by the reluctance of wealthier countries to reduce government farm subsidies, and the unwillingness of poorer countries to open their markets to U.S. goods and services.

Talks began Monday in Geneva, with a preliminary outline previously agreed upon by participating delegations and revised on July 10 by the committee’s chairman, Crawford Falconer, New Zealand’s WTO ambassador. The Geneva talks were designed to address three main points of contention: Read on to learn more.

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