America's proposal to abolish export subsidies came after the farm bill was signed and drew attention to the gap between what America says and what it actually does.
The problem is that the new bill provides for even bigger export subsidies than the old law: the subsidies are merely directed through different channels.
The United States has moved to eliminate export subsidies, but under the farm bill which expires in 2007, the vast majority of payments to U.S. growers continue.
The bill contains an inane formula which allows the export of supercomputers with a performance capability of 25% or less of the average of the two most powerful supercomputers currently available commercially.
Cheekily, perhaps, in view of its own farm bill, Washington has proposed the eventual abolition of all agricultural export subsidies and a limit on domestic farm subsidies of 5% of the value of total domestic production.