U.S. Offer Of Farm Cuts Underwhelms At WTO Meeting

Law360, New York (July 23, 2008, 12:00 AM EDT) -- As a starting point for negotiations at World Trade Organization meetings in Geneva on Tuesday, the United States offered to lower the subsidies it pays to farmers to $15 billion, an offer that has reportedly struggled to pass the “laugh test.”

On the second day of the negotiating session, Ambassador Susan Schwab, the U.S. trade representative, said the U.S. was willing to drop U.S. farm subsidies.

“This is a major move, taken in good faith with an expectation that others will reciprocate and step forward with...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.