Rep. Frank Lucas, Chairman of the House Agriculture Committee, and Rep. Doug LaMalfa today issued statements after the Commodity Futures Trading Commission (CFTC) voted, 4-0, to exempt producers, utility companies, and other non-financial entities from being required to register as swap dealers when they enter into energy contracts with government-owned utilities.
House Ag Leaders Will Welcome Agenda Positive for U.S. Ag Trade
Combest, Stenholm vow continued support for strong U.S. negotiating position at WTO
November 14, 2001 – The Chairman and Ranking Minority Member of the U.S. House Committee on Agriculture reacted positively to today's new launch of trade negotiations. Citing foreign tariffs on food and agricultural products that average a high of 62% against U.S. goods, Chairman Larry Combest (R-Texas) and Ranking Member Charlie Stenholm (D-Texas) noted World Trade Organization member nations now have a blueprint for going forward in which U.S. farmers and ranchers can have significantly better access to foreign markets.
"Two years ago at the Seattle talks, we praised U.S. trade officials for hanging tough for agriculture. We welcome today's commitment as a result of America's position that there be context for negotiations with rules and deadlines. With an agreed framework, this commitment is a step forward toward all countries putting their agricultural policies on the agenda. As negotiations proceed, U.S. trade officials can expect support for the House Agriculture Committee's insistence on elimination of foreign subsidies that put American farmers and ranchers at a significant disadvantage. In addition, we expect close and frequent consultations with U.S. negotiators throughout this process."
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