[the_why_of_y]

The majority of the subsidies are implicit, in the form of negative externalities that are not priced in.

But I really should locate a more recent version of this report...

https://www.imf.org/en/publications/wp/issues/2025/12/20/und...

In 2024 they found $725bn in explicit subsides, plus $6.7tn in implicit subsidies.