The Costs of Agricultural Protection and the Difference Free Trade Would Make

This chapter discusses the implications of reforming current agricultural policies in the developed industrial countries. Its focus is on the major participants in the current round of negotiations under the General Agreement on Tariffs and Trade (GATT): Australia, Canada, the European Community (EC), Japan, and the United States. The chapter draws upon the results obtained from a number of economic models to determine the likely impact of trade liberalization on world agricultural markets, and upon the domestic economies of the major trading countries.