Monetary Factors Influencing GATT (General Agreement on Tariffs and Trade) Negotiations on Agriculture

摘要

Large swings in interest and exchange rates have increased government intervention in trade and government support of domestic agricultural production. This situation has led to reduced import demand, global surpluses, and increased budgetary outlays. These consequences have stimulated negotiations aimed at liberalizing trade. The traditional roles of the International Monetary Fund (IMF) and the General Agreement on Tariffs and Trade (GATT) and a focus on developed country trade have discouraged a discussion of these problems in GATT negotiations. The importance of developing countries in agricultural trade, their increased participation in GATT, and the structure of their exchange markets have also complicated these negotiations.