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TRADE
Cotton, King of Cancun
With the world on the warpath against farm subsidies, U.S. cotton was ripe for the pickin' at the WTO summit in Cancun. So why did the $3.2 billion subsidy program survive the talks unscathed? It wasn't due to the forgiving nature of the world's other major cotton-growers, who still loathe the U.S. system for jeopardizing the livelihood of farmers in impoverished areas of the world. Rather, some skillful politicking by U.S. lobby group the National Cotton Council, a.k.a. King Cotton, helped keep the money flowing.
King Cotton has long worked Capitol Hill to guarantee subsidies for some 25,000 U.S. farmers. The money ...
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