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Reform of domestic agriculture support in the form of financial subsidies has long been a vexed issue. One relatively promising area for reform is to address WTO members’ entitlements to deploy domestic support, rather than aiming to cut actual expenditures per se. Specifically, reducing entitlements would diminish members’ rights to increase domestic support payments in future. Such reductions are best targeted at those subsidies that distort trading partners’ production and trade incentives, rather than at subsidies generally regarded as either relatively benign, or minimally distorting to support domestic farmers and the agricultural economy. Read our latest working paper on this important issue.
Ken Ash, Independent Consultant, IIT Visiting Fellow, and former OECD Director of Trade and Agriculture.
Carmel Cahill, Independent Consultant and former OECD Deputy Director of Trade and Agriculture.
Twenty-eight years after agriculture was brought into the rules-based multilateral trading system global production remains significantly distorted by policy support. Unless WTO members put away their well-worn talking points and adopt a fresh approach to modernizing the rules for agriculture trade, the future risks looking much like the past.
Andreas Freytag, Professor and Chair of Economic Policy, Friedrich Schiller University, Jena and Visiting Professor with IIT.
Microchip shortages are high on the agenda of governments and businesses feeling the pinch of ongoing supply shortages. Not least for this reason, there is a broad political consensus in Europe that strong support is needed for the European chip industry in order to be independent of Asian manufacturers in the future.
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