Cash crop. (Panorama).
Brazil's government is preparing a fight before the World Trade Organization over increased agricultural subsidies agricultural subsidies, financial assistance to farmers through government-sponsored price-support programs. Beginning in the 1930s most industrialized countries developed agricultural price-support policies to reduce the volatility of prices for farm products and to to farmers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The U.S. subsidies will jump by as much as 62%. Brazil maintains the new measure is protectionist and, if signed into law, will cost it US$1.5 billion in soybean soybean, soya bean, or soy pea, leguminous plant (Glycine max, G. soja, or Soja max) of the family Leguminosae (pulse family), native to tropical and warm temperate regions of Asia, where it has been and cotton exports annually. European countries are also critical of the subsidies. The move follows a controversial 30% U.S. government tariff on steel imports in a bid to protect the embattled U.S. steel The United States Steel Corporation (NYSE: X) is an integrated steel producer with major production operations in the United States and Central Europe. The company is the world's seventh-largest steel producer ranked by sales (see list of steel producers). industry. Brazilian officials accuse U.S. politicians of handing out subsidies in exchange for votes in preparation for upcoming elections.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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