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U.S. House and Senate agriculture committee proposals for a new farm law represent a “good faith” effort by lawmakers to resolve a trade dispute over cotton with Brazil, U.S. Agriculture Secretary Tom Vilsack said.
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Democrats on the House Agriculture Committee failed to restore cuts in federal food-stamp spending as the panel approved yesterday a $940 billion bill reauthorizing U.S. Department of Agriculture programs.
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The U.S. House Agriculture Committee debated legislation today to reauthorize farm programs, a day after the Senate panel approved a version that will cost $955 billion over 10 years.
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U.S. Senator Rand Paul opposes a national law banning same-sex marriage and federal penalties for drug offenders. He’s said there could be “thousands of exceptions” to any abortion ban. And the Kentucky Republican questions the costs of federal farm subsidies.
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The House Agriculture Committee proposed legislation that would cut farm programs by an estimated $40 billion over 10 years and end direct payments to farmers in favor of a growers safety net tied to crop insurance.
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The selection of Brazil’s Roberto Azevedo as the next head of the World Trade Organization may help ease emerging markets’ resistance to removing barriers as part of global trade talks.
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Latin America’s two largest nations are vying for economic and diplomatic clout as their candidates face off as finalists to head the World Trade Organization.
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U.K. Business and Energy Minister Michael Fallon said he’s optimistic the U.S. will agree a free- trade deal with the European Union, adding that Barack Obama appears more positive about the idea than predecessors.
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The World Trade Organization needs to complete the Doha Round of talks as the group of nations has to deliver on an unfulfilled promise that has been pending for more than a decade, Herminio Blanco, Mexico’s candidate for the organization’s top post, said.
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A trade alliance between the U.S. and the European Union would give a lift to both economies and help them recover from the economic crisis, EU Trade Commissioner Karel De Gucht said.
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