G20 agriculture ministers criticise protectionism
A joint statement has been released
They vowed to reform World Trade Organization rules, but did not detail what steps they would take to improve the food trade system.
In the statement, they said they were “concerned about the increasing use of protectionist non-tariff trade measures, inconsistently with WTO rules.”
The ministers from countries including the United States and China, in Buenos Aires for the G20 meeting of agriculture ministers, said in the statement they had affirmed their commitment not to adopt “unnecessary obstacles” to trade, and affirmed their rights and obligations under WTO agreements.
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The meeting came amid rising trade tensions that have rocked agricultural markets. China and other top U.S. trade partners have placed retaliatory tariffs on American farmers after the Trump administration put duties on Chinese goods as well as steel and aluminium from the European Union, Canada and Mexico.
U.S. growers are expected to take an estimated $11 billion hit due to China’s retaliatory tariffs. Last week, the Trump administration said it would pay up to $12 billion to help farmers weather the trade war.
U.S. Agriculture Secretary Sonny Perdue told Reuters in an interview on the sidelines of the meeting that Trump’s plan would include between $7 billion and $8 billion in direct cash relief that U.S. farmers could see as early as late September.
Despite the payments, the measures are “not going to make farmers whole,” Perdue said.
Published: by Radio NewsHub