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How U.S. Agriculture Will Fare Under the USMCA and Retaliatory Tariffs

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Listed:
  • Chepeliev, Maksym
  • Tyner, Wallace E.
  • van der Mensbrugghe, Dominique

Abstract

A hallmark of the Trump Administration has been to reverse the post-World War II consensus on lowering of trade barriers and a commitment towards multilateral free trade, towards a more protectionist and perhaps mercantilist position vis-à-vis trade policy. One of the Administration’s first actions in this regard was the decision to leave the Trans-Pacific Partnership (TPP) agreement, followed thereafter by raising tariffs on steel and aluminum imports. President Trump left no doubt where he stood on the North American Free Trade Agreement (NAFTA), which he often stated was the “worst trade deal maybe ever signed anywhere.” The administration’s actions on trade are likely to have significant implications for U.S. farmers as these actions target three of the largest markets for U.S. agricultural exports—Canada, China and Mexico—accounting for some 44% of U.S. agricultural exports representing an average of $63 billion from 2013 to 2015.
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Suggested Citation

  • Chepeliev, Maksym & Tyner, Wallace E. & van der Mensbrugghe, Dominique, 2018. "How U.S. Agriculture Will Fare Under the USMCA and Retaliatory Tariffs," Issue Reports 309973, Farm Foundation.
    • Handle: RePEc:ags:ffispa:309973
    DOI: 10.22004/ag.econ.309973
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    References listed on IDEAS

    as
    1. Taheripour, Farzad & Wally Tyner, 2018. "Impacts of Possible Chinese Protection on US Soybeans," GTAP Working Papers 5654, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    2. Taheripour, Farzad & Wally Tyner, 2018. "Impacts of Possible Chinese Protection on US Soybeans," GTAP Working Papers 5654, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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    Cited by:

    1. John C. Beghin & Heidi Schweizer, 2021. "Agricultural Trade Costs," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 500-530, June.
    2. Monique Carvalho & André Azevedo & Angélica Massuquetti, 2019. "Emerging Countries and the Effects of the Trade War between US and China," Economies, MDPI, vol. 7(2), pages 1-21, May.
    3. Julián Tole Martínez, 2019. "Colombia entre los TLC y la OMC: ¿liberación o administración del comercio internacional?," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1130, November.
    4. Shantayanan Devarajan & Delfin S. Go & Csilla Lakatos & Sherman Robinson & Karen Thierfelder, 2021. "Traders' dilemma: Developing countries' response to trade wars," The World Economy, Wiley Blackwell, vol. 44(4), pages 856-878, April.
    5. Julián Tole Martínez, 2019. "Colombia entre los TLC y la OMC: ¿liberación o administración del comercio internacional?," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1139, November.

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    Keywords

    International Relations/Trade;

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