Mr. Speaker, Canadian farmers are experiencing devastating financial problems in part because of subsidies in the United States and European Union.
In a recent agreement Canada and the U.S. made progress toward addressing the problem. The two countries agreed to a co-operative response to the European Union's trade distorting subsidies.
Subsidies encourage overproduction which leads to oversupply and results in depressed markets. The combined voice of Canada and the United States will be more persuasive than our individual voices in encouraging the EU to eliminate trade distorting practices.
The Minister of Agriculture and Agri-Food, the Minister of International Trade and the Minister responsible for the Canadian Wheat Board have taken an extremely important initiative. I urge them to continue their work in eliminating trade distorting subsidies.