U.S., others propose ban on fisheries subsidies for vessels with foreign flags

The United States and a handful of other World Trade Organization members are proposing a ban on fisheries subsidies to vessels that do not fly the flag of the subsidizing member. The U.S. is joined on the proposal by Argentina, Australia, New Zealand and Uruguay. “The well-documented practice of registering and fishing under a Flag of Convenience (FOC), combined with the practice of flag-hopping between FOCs, enables fishing vessels to evade monitoring, control, and surveillance measures by flag states and...