The current American and European mutual accusations of agricultural protectionism are an obvious case of the pot calling the kettle black. What series of events led up to this confrontation? And how can the conflict situation be eased?

Since 2006, global prices and price volatility for foodgrain commodities have spiked frequently and dramatically. Such spikes have had the heaviest economic and social impact on developing nations, where agriculture accounts for a sizable portion of economic activity. We demonstrate how US...