Economic norms are being dramatically changed by the coronavirus. Nearly 70 countries now restrict the export of medical supplies. There is also now a stronger push for government intrusion into agricultural markets. Some in Europe are calling for a return to intervention stocks to prop up prices, reduce food losses and boost food security. Meanwhile, India has invoked the peace clause of the WTO’s temporary policy on Public Stockholding for Food Security Purposes to justify the country spending more on rice subsidies than is allowed under the Uruguay Round’s de minimis clause.  India makes the dubious argument that its policy is not trade distorting because even though it is the largest exporter of rice, it isn’t ex...

TAGS – Europe, India