ABSTRACT

2014 Farm Bill Provisions and WTO Compliance [April 22, 2015]   [open pdf - 563KB]

"The enacted 2014 farm bill (Agricultural Act of 2014; P.L. 113-79) could result in potential compliance issues for U.S. farm policy with the rules and spending limits for domestic support programs that the United States agreed to as part of the World Trade Organization's (WTO's) Uruguay Round Agreement on Agriculture (AoA). In general, the act's new farm safety net shifts support away from classification under the WTO's green/amber boxes and toward the blue/amber boxes, indicating a potentially more market-distorting U.S. farm policy regime. The 2014 farm bill eliminates many of the support programs of the 2008 farm bill (P.L. 110-246) and replaces them with several new 'shallow-loss' programs, addressing relatively small shortfalls in farm revenue-Agricultural Risk Coverage (ARC), Supplemental Coverage Option (SCO), and Stacked Income Protection Plan (STAX)-as well as a revamped counter-cyclical price support program, Price Loss Coverage (PLC), that relies on elevated support prices. Among the safety net programs, only the marketing loan program and the U.S. sugar program were extended unchanged. The sugar program will continue to count for $1.4 billion against the current U.S. limit of $19.1 billion for non-exempt, trade-distorting amber box outlays."

Report Number:
CRS Report for Congress, R43817
Author:
Publisher:
Date:
2015-04-22
Series:
Copyright:
Public Domain
Retrieved From:
Via E-mail
Format:
pdf
Media Type:
application/pdf
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