US Export Credits: Denials and Double Standards
Published: April 2003
Publication Summary
The US continues to deny the significance of its export subsidy programs. This position is not only hypocritical but also a major obstacle to agricultural subsidy reform through the WTO. US export credits have covered almost $34 billion in agricultural exports over the past decade. The subsidy components of US export credit programs amounted to $200 million in 2002. The US also supports double standards by using export credits to expand US market shares: nearly 80% of Asia's allocation was targeted to industrialized countries like South Korea and Taiwan rather than poorer countries. Worse, export credits directly subsidize commercial operations of agribusiness corporations that dump products and misuse food aid all over the world.
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