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U.S. Trade Destroyed In WTO Rounds

Published 07/30/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

The World Trade Organization’s Doha talks came to an abrupt halt on Tuesday when the U.S., China and India failed to reach an agreement on agricultural trade between the developed and developing nations.

This deal cripples America’s ability to export and sell agricultural products. The WTO is an undemocratic and biased organization limiting the nation’s ability to act in its best interest. The U.S. imports hundreds of millions of products from China and India, but under the WTO, these nations are working to stop American exports. America’s ability to remain productive in a global market is destroyed with continued membership within the WTO.

Source Bloomberg.com:

World Trade Organization talks entered their ninth day as a standoff between India and China on one side and the U.S. on the other threatened to derail efforts to reach a global accord liberalizing commerce.

…

India and China refuse to accept key elements of a compromise put forth by Lamy four days ago and refined by ministers over the weekend, according to the U.S. India never endorsed the proposal and China is now ``backtracking'' in its support, Schwab said.

…

Under Lamy's initial compromise, when imports of an agricultural product rise 40 percent, duties can be imposed -- a level India argued was too high to protect its farmers. The latest proposal removes the threshold and permits a developing nation to apply the measure to any farm imports if the product is shipped in quantities or at prices that cause ``demonstrable harm'' to a country's ``food security, livelihood security and rural development needs.''

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