Agriculture and International  Trade Chapter 16
Discussion Topics <ul><li>Growth and instability in agricultural trade </li></ul><ul><li>The importance of agricultural tr...
Page 314
Trade Liberalization <ul><li>Creation of  WTO  to implement URA provisions, settle disputes, and review policy </li></ul><...
Importance of Trade <ul><li>Crop agriculture in U.S. has become  export dependent . </li></ul><ul><li>More than one-half o...
Page 320 U.S. agricultural exports generate jobs in both the farm and nonfarm sectors…
Page 321 Bulk commodities dominated U.S. agricultural exports until the early 1990’s when value-added sales began to-incre...
Page 323
Page 324 U.S. agricultural exports by region and selected countries. Note the growing importance of Asian markets (36%). C...
Page 327 U.S. agricultural imports by region and selected countries. Western Europe is a more significant supplier of impo...
Balance of Trade The balance of trade is a measure of overall trade  performance. Trade Surplus = Exports > Imports Trade ...
Balance of Trade The balance of trade is a measure of overall trade  performance. Trade Surplus = Exports > Imports Trade ...
Balance of Trade The balance of trade is a measure of overall trade  performance. Trade Surplus = Exports > Imports Trade ...
Summary <ul><li>Trade distortions have prompted nations to seek general agreements on tariffs and trade (GATT). </li></ul>...
Chapter 17 focuses on  exchange rates  and their impact on trade ….
Upcoming SlideShare
Loading in...5
×

Agri 2312 chapter 16 agriculture and international trade

581

Published on

AGRICULTURAL ECONOMICS

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
581
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
27
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Agri 2312 chapter 16 agriculture and international trade

  1. 1. Agriculture and International Trade Chapter 16
  2. 2. Discussion Topics <ul><li>Growth and instability in agricultural trade </li></ul><ul><li>The importance of agricultural trade </li></ul><ul><li>The composition of agricultural trade </li></ul><ul><li>Direction of U.S. agricultural trade </li></ul><ul><li>U.S. agricultural trade performance </li></ul>
  3. 3. Page 314
  4. 4. Trade Liberalization <ul><li>Creation of WTO to implement URA provisions, settle disputes, and review policy </li></ul><ul><li>Convert quotas to tariff equivalents and phase in reduction of tariffs by 36% over time </li></ul><ul><li>Reduce export subsidies by 36% over time </li></ul><ul><li>Lower domestic subsidies by 20% over time </li></ul><ul><li>Use accepted international standards for food safety and plant health regulations, harmonize standards and establish disease free zones </li></ul>Page 316
  5. 5. Importance of Trade <ul><li>Crop agriculture in U.S. has become export dependent . </li></ul><ul><li>More than one-half of annual cotton, rice and soybean production is exported </li></ul><ul><li>Livestock agriculture less dependent on foreign sales for sustainable demand </li></ul><ul><li>Greater dependence on imports as well </li></ul>Page 317
  6. 6. Page 320 U.S. agricultural exports generate jobs in both the farm and nonfarm sectors…
  7. 7. Page 321 Bulk commodities dominated U.S. agricultural exports until the early 1990’s when value-added sales began to-increase.
  8. 8. Page 323
  9. 9. Page 324 U.S. agricultural exports by region and selected countries. Note the growing importance of Asian markets (36%). Canada (15.6%) accounts for more than all of Western Europe.
  10. 10. Page 327 U.S. agricultural imports by region and selected countries. Western Europe is a more significant supplier of imports to the U.S. than it was a source of export sales for U.S. agricultural exports. Latin America is largest supplier to U.S.
  11. 11. Balance of Trade The balance of trade is a measure of overall trade performance. Trade Surplus = Exports > Imports Trade deficit = Imports > Exports Page 328
  12. 12. Balance of Trade The balance of trade is a measure of overall trade performance. Trade Surplus = Exports > Imports Trade deficit = Imports > Exports A trade surplus provides capital since the nation is selling more than it is buying. A trade deficit, on the other hand, can reduce a nation’s capital reserves over time, forcing it to either limit imports or borrow capital. Page 328
  13. 13. Balance of Trade The balance of trade is a measure of overall trade performance. Trade Surplus = Exports > Imports Trade deficit = Imports > Exports A trade surplus provides capital since the nation is selling more than it is buying. A trade deficit, on the other hand, can reduce a nation’s capital reserves over time, forcing it to either limit imports or borrow capital. U.S. agriculture has recorded trade surpluses since the 1950s. Page 328
  14. 14. Summary <ul><li>Trade distortions have prompted nations to seek general agreements on tariffs and trade (GATT). </li></ul><ul><li>U.S. agriculture becoming increasingly dependent on export sales. </li></ul><ul><li>Imports supplying a growing share of domestic food and fiber consumption. </li></ul><ul><li>Developing countries are supplying a growing share of world exports. </li></ul><ul><li>U.S. agriculture generates a trade surplus each year, partially offsetting the trade deficit in other merchandise. </li></ul>
  15. 15. Chapter 17 focuses on exchange rates and their impact on trade ….
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×