US President signs controversial farm bill

The US President George Bush has signed a
controversial new farm bill that will boost agriculture
spending by 70 percent over the next 10 years and increase
subsidies to US farmers.

What changes should be introduced to European agricultural policy with the next CAP reform?

 

The EU, Australia, Canada and Brazil have all condemned the
US farm bill as trade distorting and expressed concerns
that it will endanger WTO trade liberalisation talks on
agriculture (
see EURACTIV of 8
May 2002

). They warned that the developing countries depending on
farm exports will be hit particularly hard by the new law.

Under the new law, US farmers will
receive 173.5 billion dollars in subsidies over the next
ten years. President Bush stated that the new farm bill
will provide security to farmers without encouraging
overproduction or price decreases.

 

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