Word: wheats
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...Canadian government averted a possible trade war with the U.S. this week by agreeing to slash annual wheat exports to 1.5 million metric tons. The wheat pact fulfilled Clinton's pre-NAFTA promises to grain-growing states that he would challenge alleged Canadian subsidies of the industry...
...United States is dangling $15 million in aid to Haiti over the ruling junta's heads, most of it to come from sales of U.S.-donated wheat flour. The catch, Secretary of State Warren Christopher said, is that Haiti's impoverished people won't get the bulk until the military welcomes back exiled President Jean-Bertrand Aristide. Even so, about $3 million will immediately go to feed children, the elderly and disabled. BTW: The last time the U.S. gave Haiti aid -- $20 million last year -- the de facto government in Port-au-Prince reportedly froze several banks accounts so much...
...Canada called a truce on the fierce "wheat war" between the two countries. American farmers have long complained that the Canadian government unfairly subsidizes its wheat exports, and undercuts U.S. farmers. The agreement reached today would impose high tariffs if Canadian wheat shipments to the U.S. exceed certain levels...
...across the hall for his daily shower. Returning to his cell, he shaves at the stainless-steel sink. A heated kitchen cart is wheeled down the corridor, and through a slot in the door Simpson is handed a breakfast of scrambled eggs, potatoes, two slices of wheat bread and coffee brewed in a stainless-steel kitchen vat so wide it uses a bed sheet for a filter. His only utensil is a plastic spoon...
More fundamentally, decades of U.S. trade deficits have sent hundreds of billions of dollars sloshing around the world, and the oversupply, like an oversupply of, say, wheat, drives down the price. In particular, the U.S. trade deficit with Japan creates a constant pressure against the dollar. Japanese companies regularly sell the dollars they earn trading with the U.S. for yen to pay off workers, stockholders and creditors in Japan. The pressure might be eased by a Tokyo government with the will and staying power to negotiate a trade deal that would reduce Japan's trade surplus with...