WTO Agricultural Ministers Ponder New Subsidies From COVID-19

GENEVA, SWITZERLAND – Though the World Trade Organization (WTO) is facing some difficult days – especially as the United States pushes for major reforms – a recent meeting of the Committee on Agriculture produced “meaningful dialogue”, according to WTO Deputy Director-General Alan Wolff. The Ag Committee oversees the only accord that governs worldwide agricultural trade, and many of last week’s questions were directly related to COVID-19, including some on new types of subsidies for farmers and new testing and packaging requirements for imported foods. Wolff explained that the COVID-19 pandemic was a “wake-up call” and that WTO members must “bullet-proof” the Agreement on Agriculture to avoid the global food supply becoming unpredictable in times of crisis. Specifically, he believes this means making serious and permanent reductions to agricultural tariffs, reducing trade-distorting domestic support, and better-regulating food export restrictions.
(SOURCE: All Ag News)