Negotiations for Freer Trade in Agricultural Products
It is highly unlikely that any of the industrial countries will unilaterally reduce the protection provided to agriculture, at least not by more than a moderate degree. And this is understandable. The present pattern of international trade in agricultural products can be called chaotic without serious exaggeration. Import levies or tariffs of 50 per cent and more are quite common; in fact, a significant fraction of the world’s imports of agricultural products somehow pass over barriers of this magnitude. Nor are export subsidies of similar or greater relative magnitude unknown. In fact the experience of recent decades has indicated that there is no degree of nominal protection of an agricultural product that can be called unimaginable.1
KeywordsFreer Trade Trade Liberalization Agricultural Policy Effective Protection Export Subsidy
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