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How Strategies to Reduce U.S. Bilateral Trade Deficits in Manufactures Affect U.S. Agricultural Exports

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  • Schwartz, Nancy E.
  • Krissoff, Barry

Abstract

Recent U.S. policy debate has focused on reducing U.S. bilateral trade deficits in manufactures with Japan and the European Community (EC). This paper analyzes how different policies would affect U.S. agricultural exports. The analysis uses a static equilibrium world model for disaggregated agriculture, aggregated Armington-type manufactures, and aggregated nontraded goods. Agricultural exports tend to be hurt least by foreign liberalization of manufactures trade and hurt most by U.S. imposition of retaliatory protection on manufactures, although both these policies improve U.S. bilateral trade deficits. By contrast, a 10-percent devaluation of the dollar helps agriculture and induces the largest improvement in bilateral trade deficits.

Suggested Citation

  • Schwartz, Nancy E. & Krissoff, Barry, 1987. "How Strategies to Reduce U.S. Bilateral Trade Deficits in Manufactures Affect U.S. Agricultural Exports," Staff Reports 324727, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:324727
    DOI: 10.22004/ag.econ.324727
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    References listed on IDEAS

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    1. Roningen, Vernon Oley, 1986. "A Static World Policy Simulation (Swopsim) Modeling Framework," Staff Reports 277898, United States Department of Agriculture, Economic Research Service.
    2. Ms. Naheed Kirmani & Mr. Shailendra J. Anjaria & Mr. Arne B. Petersen, 1985. "Trade Policy Issues and Developments," IMF Occasional Papers 1985/004, International Monetary Fund.
    3. Krissoff, Barry & Ballenger, Nicole, 1987. "The Effect of Protection and Exchange Rate Policies on Agricultural Trade: Implications for Argentina, Brazil, and Mexico," Working Papers 51820, International Agricultural Trade Research Consortium.
    4. Dixit, Praveen M. & Roningen, Vernon Oley, 1986. "Modeling Bilateral Trade Flows With The Static World Policy Simulation (Swopsim) Modeling Framework," Staff Reports 277920, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Schwartz, Nancy E. & Krissoff, Barry, 1989. "Unbalancing Act: Strategies for Trade in Manufactures and Agricultural Trade Impacts," 1989 Occasional Paper Series No. 5 197667, International Association of Agricultural Economists.

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