World Trade Organization strikes 'historic' farming subsidy deal

[Eugene]

Source: BBC

Countries in the World Trade Organization (WTO) have agreed to abolish subsidies on farming exports.

Developed countries agreed to stop the subsidies immediately and developing nations must follow by the end of 2018.

The WTO, which represents 162 countries, called it "the most significant outcome on agriculture" since the body's foundation in 1995.

But longstanding talks on other trade barriers were left unresolved at the end of the summit in Kenya.

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Read more: http://www.bbc.com/news/business-35145377

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20 December 2015 Business

[Astraea]

1. which the U.S. and others will continue to violate.

Does anyone actually take this seriously?

[pampango]

2. "Removing agriculture export subsidies is intended to help farmers in poorer countries to compete

more fairly."

We shall see if the developed countries give up their agricultural subsidies as they promise. Something tells me it will take years of penalties, like that the US already pays Brazil for our sugar subsidies, for "farmers in poorer countries to compete more fairly".