In the past few years, we’ve seen the global trade of beef, pork and dairy products have skyrocketed, and now that the U.S. is looking to leave the TPP, it’s unclear whether those changes will be permanent.
The World Trade Organization (WTO) is negotiating the next round of the agreement, which is expected to come up for ratification this fall.
What does this mean for our food supply and our future food security?
It’s important to understand that these trade agreements have a long history, with the original one being ratified in 1994.
That’s why they’re often called “trade pacts.”
That means they are deals that have been negotiated in secret between two nations that are not legally obligated to participate in the negotiations.
These trade deals also usually involve many provisions that could have a negative impact on our food security.
We know that when food prices rise, people spend less.
A study published in the journal Food Policy concluded that if a tariff is imposed on our imports, it could lead to an average reduction of 4.5 percent in food consumption, which translates to roughly $6,000 in lost wages.
While the benefits of trade pacts can be seen across the board, the impacts can vary significantly.
For example, tariffs could lead farmers to switch their production methods to more expensive ones that require more land and pesticides, while the costs of imported food could rise by about 15 percent.
For this reason, we need to be aware of the potential impact of these trade deals and take steps to protect our food.
For more information on how to protect yourself from the effects of these agreements, check out our article on Protecting Your Food Supply.
What Are the Benefits of Trade Pacts?
Trade pacts are usually negotiated between countries that are either member countries of the World Trade Organizations (WFO), or non-member countries that aren’t.
For the most part, these are bilateral agreements, with both parties agreeing to protect one another’s domestic markets, including labor and environmental protections.
However, in many cases, the trade pact could have an adverse impact on the food supply in other countries.
A recent example is the proposed Trans-Pacific Partnership (TPP), which is the second round of negotiations between the U