|
|
Article: U.S. PLANS TO CANCEL COTTON SUBSIDIES.(agricultural subsidies)
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- July 11, 2005
- Author:
CopyrightCOPYRIGHT 2005 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Evan Clark
WASHINGTON-The Bush administration moved last week to cancel a program that has supported U.S. cotton growers and yarn spinners with millions of dollars of government subsidies and has been ruled illegal by the World Trade Organization.
Congress must first approve the repeal of the program, a crucial part of the farm initiative referred to as Step 2, and opposition can be expected from lawmakers representing agriculture-heavy districts. Step 2 subsidies are triggered when world cotton prices fall below a certain level.
The administration also proposed the removal of a 1 percent cap on fees that can be charged under ...