Focuses on fisheries trade, regulated under the "Agreement on Subsidies and Countervailing Measures" outside the World Trade Organization agreement. Suggests much stricter discipline is needed for the sector, led by the environmental interest, the USA and New Zealand. Relates fish stock depletion to subsides, which are not quantifiable, in order to create a free market and efficient producers. Points out that technology and high incomes created the fish stock depletion, so subsidies are irrelevant; while all World Trade Organization members subsidize fisheries, none can be found to attack it. Proposes new World Trade Organization disciplines for licensing, training and compensating fishermen, reducing effort and increasing fees, and for discouraging overfishing by foreign fleets. Concludes that new agreements should protect Pacific islands wishing to gain from their tuna stocks while protecting fish stocks.