TeachMeFinance.com - explain Agreement on Agriculture
Agreement on Agriculture The term 'Agreement on Agriculture ' as it applies to the area of agriculture can be defined as ' The Uruguay Round Agreement on Agriculture reached in 1994 and implemented in U.S. law by the Uruguay Round Agreements Act of 1994 brings agricultural trade more fully under international trade rules and obligations. The Agreement provides for the conversion of quantitative barriers to trade to tariffs or tariff rate quotas, and for reductions in export subsidies and trade-distorting domestic support policies'.
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