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Wto Essay

603 words - 3 pages

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.S. proposal on export competition, market access and domestic support would result in reductions in trade barriers for agricultural products, greater equity in world agriculture, and expanding growth opportunities for the sale of agriculture products.Export Subsidies. The U.S. gives a five year plan, with reductions being phased ...view middle of the document...

An exception would be made for developing countries for revenue generation purposes. The WTO allows countries to impose export taxes on agricultural products with next to no restrictions. These taxes can really hurt the market especially when applied during areas of global short supply. They can also be used to discourage exports on basic products and encourage exports on produced products.The U.S. is constitutionally prohibited from levying export taxes.Tarriffs. The U.S. is proposing the use a harmonizing formula called the Swiss Formula.The Swiss 25 formula is a mathematical equation, which results in higher tariffs being reduced more than lower tariffs, with no tariff being over 25 percent. This type of reduction pattern -- higher tariffs being reduced more than lower tariffs - is called harmonization and results in all tariffs being reduced to similar levels. U.S. also proposes that WTO members agree in the negotiations for a specific date that will eliminate all agricultural tariffs.While tariffs have decreased in recent years, the world average tariff in agricultural products is 62 percent while the U.S. average agricultural tariff is 12 percent.The U.S. submitted these proposals along with many others on August 23rd. Many other countries are also working hard to extend the limited agricultural trade reforms agreed on in the 1986-1994 Uruguay Round of multilateral trade negotiations. There are 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.

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