Heath Tarbert, chairman of the U.S. Commodity Futures Trading Commission, discusses the impact of the highly-anticipated phase one trade deal signing between the U.S. and China.
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Commercial Member
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Joined Jan 2015
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The agreement seems to lock in protectionist measures for agriculture which already receives very large subsidies from the US government in contradiction of free trade sentiments and provides political cushions in key electorates. These kind of deals work against free trade on a global basis and shows how super powers are enabled to achieve preferential trading rules by dealing one to one with each other rather than on a global level playing field which smaller and weaker countries would prefer under WTO auspices. Of course this guy is excited - I would be too. But let's not pretend its good for the world.
Isnt the problem the fact that all countries and EU already do this. It is a fact EU subsidizes farm produce to a massive extent to the detriment of economical trading and so does Canada as was revealed during UMCA negotiations. While I agree with you about the everything you said, unfortunately this is the norm rather than the exception. You would obviously agree with Mr Trump's alternative which is all countries should just do away with all tarrifs, fair all round and let the markets make of that what it may?