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May 18, 2003 Sunday Rabi-ul-Awwal 15, 1424





US farm subsidies opposed


DEAUVILLE, May 17: US farm subsidies were directly opposed on Friday by all of the other members of the world’s leading industrial economies at the Group of 7 meeting here, a source told Reuters.

The G7 source, who asked for anonymity, also said the European Union’s Common Agricultural policy (CAP) is not on the table at the meeting.

The US subsidies are being directly challenged, and the CAP is not on the table, the source told Reuters.

The source said it was not clear whether farm support would be mentioned in the final G7 communique.

However, EU members complain that U.S. legislation passed last year doles out billions of dollars in additional subsidies to US farmers at the same that they are being asked to scale back subsidies for European producers.—Reuters






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