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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: CalculatedRisk who wrote (8068)	6/18/2004 4:55:54 PM
From: mishedlo	Read Replies (1) of 116555

Of course furniture subsidies by China are bad but cotton subsidies by the US are OK. Makes perfect sense to me. U.S. vows to appeal WTO cotton ruling Friday, June 18, 2004 7:36:07 PM WASHINGTON (AFX) -- The Bush administration will appeal a decision in the World Trade Organization against U.S. subsidies for cotton, a spokesman for U.S. Trade Representative Robert Zoellick said Friday "We have serious concerns with aspects of the final panel report and after closely viewing the report, we will appeal," said Richard Mills, chief spokesman for Zoellick Earlier Friday, the Geneva-based trade body said cotton subsidies for U.S. farmers unfairly disadvantage Brazilian farmers While the final ruling is merely a reaffirmation of an April ruling from the WTO, the decision sets the stage for a much larger battle over agriculture in ongoing negotiations to close the round of trade talks launched at Doha, Qatar in 2001 "We will defend U.S. agriculture in every forum we need to and have no intention of unilaterally disarming," Mills added.

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