The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Their goal is to give consumers and producers a greater choice of finished products, components, raw materials, and services that they use. They make this happen by ensuring that trade flows smoothly, predictably, and freely as possible. The United States is proposing ambitious reforms for agricultural trade in the World Trade Organization (WTO) negotiations. The U.…
showed first 75 words of 535 total

showed last 75 words of 535 total
…two groups, notably the European Union and Japan, that have not submitted any proposals and have indicated resistance to moving beyond the Uruguay Round framework. The U.S. proposal has received support from many WTO members. The first stage would reduce domestic agricultural support globally by 100 billion dollars and reduce most of the trade-distorting agricultural export subsidies. By using the Swiss Formula, the U.S. is trying to reduce average global agricultural tariffs by 80 percent.