Brazil is slapping some tariffs on US cotton and many other goods, having won every round in the WTO, and it’s yet another example of why those who preach fair trade rarely practice fair trade.
US agricultural subsidies have the effect of keeping prices artificially high for US consumers and promoting poverty in countries like Brazil, where domestic producers can’t compete.
And is there any chance we’ll get rid of the subsidies, a huge waste of money at a time of ever growing deficits?
Gorilla answers: “No chance of borrowing for Paul from Peter Cottontail!”
