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THE US FOOD AND AGRICULTURAL SYSTEM AND THE GATT/WTO URUGUAY ROUND AGREEMENT ON AGRICULTUREJuly 6th, 2015
The paper examines GATT’s Uruguay Round (UR) Agreement on Agriculture, its background and its potential impact on the US food and agricultural system. The UR was the first to include food and agricultural products. The reasons for previous exclusion (US price supports) and the inclusion in the UR (European Union policies) are presented. The Agreement includes rules for market access, export competition, and domestic subsidies as well as the related Sanitary and Phytosanitary Agreement. The US food and agricultural system will gain because of its comparative advantage.
