Brazil announces trade sanctions on US products, highlighting role of government subsidies
- Length: 5:35 minutes (5.11 MB)
- Format: MP3 Mono 44kHz 128Kbps (CBR)
Brazil has announced trade sanctions against US products, saying that government subsidies to the American producers give them an unfair advantage in the global market. This follows a decision last year by the World Trade Organization which approved millions of dollars of penalties on US products for policies the organization said violate trade regulations. And in 2008, the WTO said that the US wasn't doing enough to decrease aid to producers of one crop in particular: cotton. The rare move brings attention to a practice in the US that countries have long denounced: that's the government subsidies for large farms and agriculture businesses.
To discuss this latest move, we're joined by Deborah James, Director of International Programs at the Center for Economic and Policy Research.