From International Economic Law and Policy Blog: The Debt Deal and Farm Subsidies. Congress could rewrite U.S. farm policy, from crop subsidies to land stewardship and new-generation biofuels, this year under the deficit reduction plan agreed by lawmakers and the White House. The plan would create a 12-member super committee to find $1.5 trillion in savings from the tax code and entitlement programs which include crop supports. “Nutrition programs will be on the table along with everything else,” said Conaway. Public nutrition programs, such as food stamps, account for the bulk of Agriculture Department spending. In a related blog, the article below addresses similar issues globally.
Also from the ICTSD: Medicines Patent Pool Receives First Licence for HIV Drugs from Major Pharmaceutical Company. Gilead Sciences has become the first pharmaceutical company to set up a licensing agreement with the recently-established Medicines Patent Pool (MPP), in a move aimed toward increasing access in developing countries to drugs that treat HIV and Hepatitis B. The goal of the UN-backed Pool is to stimulate innovation and improve access to HIV medicines. Good move by good people for the greater good.
From Tradeology, the ITA Blog by tradegov: Colorfully Illustrated Trade Facts and Statistics. Despite an increase in the trade deficit of 15.1 percent due to a 2.6 percent increase in imports of goods and services, the department is happy to report that U.S. exports support an estimated 9.2 million jobs in 2010 which is up from 8.7 million in 2009. Exports supported 2.4 million jobs in 2009, 21.9% of all manufacturing jobs in the U.S. This article represents a follow-up from an earlier article entitled “Exports Support U.S. Jobs” . You can also download the entire (PDF) report Projected Jobs Supported by Exports, 2009 and 2010, if you want to get a more in-depth view.
Also of particular interest, from the ITA, are a series of reports “Exports, Jobs, and Foreign Investment” that detail the effects of international trade on all 50 states’ economic infrastructures in areas such as:
- The value of state merchandise exports, major manufacturing industries and markets.
- The number of state jobs in manufacturing and non-manufacturing sectors that are dependent on exports of manufactured goods.
- The number of companies, including small- and medium-sized enterprises (SMEs), that exported from the state.
- The influence of foreign investment on a state’s economic infrastructure.
- The value of exports from a state’s major metropolitan areas.
The reports are updated on a rolling basis as different supporting data series are released. Each of the 50 states are represented individually.
From U.S. Department of Commerce: Secretary Locke Resigns, Becomes Next Ambassador to China; Acting Deputy Secretary Blank Assumes Role of Acting Secretary. Bye to Locke. Hello again, Locke. One good turn, deserves another. Good Lock in your new position!