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Agricultural Policy Reform in the WTO (Hardcover)
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Agricultural Policy Reform in the WTO (Hardcover)
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Agricultural trade barriers and producer subsidies inflict real
costs, both on the countries that use these policies and on their
trade partners. Trade barriers lower demand for trade partners'
products, domestic subsidies can induce an oversupply of
agricultural products which depresses world prices, and export
subsidies create increased competition for producers in other
countries. Eliminating global agricultural policy distortions would
result in an annual world welfare gain of $56 billion. High
protection for agricultural commodities in the form of tariffs
continues to be the major factor restricting world trade. In 2000,
World Trade Organisation (WTO) members continued global
negotiations on agricultural policy reform. To help policymakers
and others realise what is at stake in the global agricultural
negotiations, this book quantifies the costs of global agricultural
distortions and the potential benefits of their full elimination.
It also analyses the effects on US and world agriculture if only
partial reform is achieved in liberalising tariffs, tariff-rate
quotas (limits on imported goods), domestic support, and export
subsidies.
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