The Uruguay Round World Trade Organization (URWTO) agreement and the North American Free Trade Agreement (NAFTA) created both benefits and costs for dairy farmers. The URWTO agreement benefits include border protection that helped to keep U.S. prices for cheddar cheese, butter, and nonfat dry...

Strategic trade theory shows that government intervention in markets with small numbers of traders can boost the welfare of a country relative to free trade. This survey critically assesses the empirical evidence regarding this possibility. One finding is that while many international food and...