Grassley: World Trade Organization Talks in Geneva

Statement

GRASSLEY: WORLD TRADE ORGANIZATION TALKS IN GENEVA

Sen. Chuck Grassley, ranking member of the Committee on Finance, with jurisdiction over international trade, and a senior member of the Agriculture Committee, made the following comment on the United States' effort to kick-start efforts to rescue a global trade deal on Tuesday by offering to cut a ceiling on its contested farm subsidies, and the reaction from leading developing countries that it was not enough.

"Ambassador Schwab put forth a major proposal to kick-start these negotiations into high gear, offering to reduce our allowable support from $48 billion down to $15 billion. But according to one press report, India's response is that it doesn't pass the ‘laugh test.' I have yet to see India make a constructive proposal that will actually advance these negotiations. This is not a laughing matter. We all stand to gain from increased trade. But to achieve that, we need to see meaningful reductions in tariff and non-tariff barriers to trade — from all sides. If India is going to stand in the way of opening up new trade flows, the negotiators might as well pack up and head home early."

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