Reforming Global Agricultural Trade: Comparing Scenarios and Analyzing Impacts
The Economic Research Service (ERS) has conducted an analysis to assess the potential impacts of two scenarios for reforming global agricultural trade. The first scenario involves the complete removal of all tariffs, while the second scenario focuses on eliminating trade costs through the implementation of the Trade Facilitation Agreement. This report compares the effects of these scenarios on various aspects such as trade, production, prices, and social welfare.
Errata
Errata: On June 25, 2021, text on South Korea’s corn tariff and the accompanying data point on the global corn tariff in the second figure were revised to correct errors that occurred in data transmission. No other data was affected by the error.
Keywords
- Trade
- Computable General Equilibrium Model (CGE)
- Tariffs
- Gross Domestic Product (GDP)
- Tariff Facilitation Agreement
Publication Overview
This publication aims to provide a comprehensive analysis of the potential impacts of reforming global agricultural trade. By comparing two scenarios, namely the complete removal of tariffs and the elimination of trade costs through the Trade Facilitation Agreement, this report sheds light on the effects on trade, production, prices, and social welfare.
SDGs, Targets, and Indicators Analysis
1. SDGs addressed or connected to the issues highlighted in the article:
- SDG 2: Zero Hunger
- SDG 8: Decent Work and Economic Growth
- SDG 10: Reduced Inequalities
- SDG 17: Partnerships for the Goals
The article discusses the potential scenarios for reforming global agricultural trade, which directly relates to SDG 2: Zero Hunger. By analyzing the effects of removing tariffs or eliminating trade costs, the article addresses the goal of ensuring food security and promoting sustainable agriculture.
Additionally, the article touches upon SDG 8: Decent Work and Economic Growth. The analysis of trade, production, prices, and social welfare highlights the importance of economic growth and job creation in the agricultural sector.
Furthermore, SDG 10: Reduced Inequalities is relevant to the article as it examines the potential impacts of trade reforms on social welfare. The analysis considers how changes in trade policies can affect income distribution and reduce inequalities.
Lastly, SDG 17: Partnerships for the Goals is indirectly connected to the article as it discusses the Trade Facilitation Agreement. This agreement aims to enhance cooperation and partnerships among countries to facilitate trade, which aligns with the goal of promoting global partnerships for sustainable development.
2. Specific targets under those SDGs based on the article’s content:
- SDG 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers.
- SDG 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
- SDG 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality.
- SDG 17.11: Significantly increase the exports of developing countries, particularly with a view to doubling the least developed countries’ share of global exports by 2020.
The targets identified are based on the goals addressed in the article and reflect specific objectives related to agricultural productivity, job creation, reducing inequalities, and promoting exports.
3. Indicators mentioned or implied in the article:
- Agricultural productivity
- Incomes of small-scale food producers
- Social welfare
- Trade volume
- Production levels
- Price levels
The article mentions or implies several indicators that can be used to measure progress towards the identified targets. These indicators include measures of agricultural productivity, incomes of small-scale food producers, social welfare, trade volume, production levels, and price levels.
4. Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 2: Zero Hunger | 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers. | Agricultural productivity Incomes of small-scale food producers |
| SDG 8: Decent Work and Economic Growth | 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation. | Social welfare |
| SDG 10: Reduced Inequalities | 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality. | Social welfare |
| SDG 17: Partnerships for the Goals | 17.11: Significantly increase the exports of developing countries, particularly with a view to doubling the least developed countries’ share of global exports by 2020. | Trade volume Production levels Price levels |
The table presents the findings from analyzing the article, including the relevant SDGs, their corresponding targets, and the specific indicators mentioned or implied in the article.
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: ers.usda.gov
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