Like those obnoxious comment trolls who try to be the first to comment, I'm calling first. A reader remarked he had heard nothing about "shallow loss" payments being amber box payments for WTO purposes, as I remarked on Sunday.
Yesterday the USDA backed up my analysis.
Meanwhile, USDA Chief Economist Joe Glauber said Tuesday that most of the programs under consideration would be likely to be categorized as trade-distorting under WTO rules.The "shallow loss" revenue program would probably be categorized as a product-specific trade distorting subsidy in the amber box, disaster aid would be non-product specific in the amber box, direct payments linked to the cost of production would be amber box and the new dairy program could be categorized as green or amber or put in the mid-distorting blue box depending on how it is finally constructed, Glauber said. [More]
This pig just found an acorn.