ABSTRACT
This chapter presents the effects of a General Agreement on Tariffs and Trade (GATT) scenario and outlines the price changes to the impacts of the Common Agricultural Policy (CAP) reform. Many of the economic and political changes that have been occurring around the world in the early 1990s have had and will continue to have major impacts on agricultural production, consumption, and trade patterns. Among the most important of these are reform of the CAP of the European Community (E.C.) and the proposed changes to world trade that would result from a successful conclusion to the Uruguay Round of the GATT negotiations. In comparing the GATT scenario to the baseline, the direction and magnitude of impacts depends not only on assumptions about the implementation of a GATT agreement but perhaps more so on the baseline itself.
