Effects of renegotiating U.S. trade agreements

Associate Professor of Agribusiness Troy Schmitz joins other panelists to discuss implications of potential revisions to tariffs at the 2018 Agricultural & Applied Economics Association Annual Meeting.

While the U.S. is experiencing an existential crisis on trade, there is tremendous uncertainty about American agricultural exports. In the Organized Symposia “Renegotiating Trade Agreements: Implication for Agriculture” taking place at the 2018 Agricultural & Applied Economics Association (AAEA) Annual Meeting in Washington, D.C., five panelists, including Associate Professor of Agribusiness Troy Schmitz, examine the consequences of changing U.S. trade agreements for agriculture.

In this press release from July 12, 2018, on AAEA:

A trade war will cause the United States to lose agricultural export market share, will place downward pressure on pork, soybean, and corn prices, and will lead to a decrease in farm income for many U.S. families. Retaliatory tariffs placed on U.S. agricultural exports in response to steel and aluminum tariffs will also lead to an increase in the price of agricultural goods for consumers in the countries that impose the trade barriers.

– Troy Schmitz, associate professor in the Morrison School of Agribusiness