Should developed countries end farm subsidies and tariffs?
Brandon asked:
It seems like the US and Europe backtrack on free trade talks when it comes to agriculture, even though I’ve read that opening up the market would do more to help impoverished nations than foreign aid. What is your position on the topic?
Keith
It seems like the US and Europe backtrack on free trade talks when it comes to agriculture, even though I’ve read that opening up the market would do more to help impoverished nations than foreign aid. What is your position on the topic?
Keith
Yes of course they should end tariffs and subsidies.
You are correct. Sustainable development in developing countries is more likely to come about through free and fair trade than aid.
The impact would almost certainly be less on the developed nations. In fact helping other nations develop is the best way to increase markets for trade of the generally higher end goods and services produced by the developed nations.
So, why don’t we do it? The impact would be felt directly by agricultural producers, and that is a powerful group anywhere.