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Agriculture after a year with COVID‐19: Any long‐term implications for international trade policy?
Author(s) -
Kerr William A.
Publication year - 2021
Publication title -
canadian journal of agricultural economics/revue canadienne d'agroeconomie
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 37
eISSN - 1744-7976
pISSN - 0008-3976
DOI - 10.1111/cjag.12274
Subject(s) - negotiation , disequilibrium , agriculture , pandemic , international trade , work (physics) , economics , covid-19 , international economics , business , political science , economic growth , development economics , geography , medicine , disease , mechanical engineering , archaeology , engineering , pathology , infectious disease (medical specialty) , law , ophthalmology
Coronavirus disease 2019 (COVID‐19) initiated shocks to the Canadian agri‐food industry moving the sector away from its prepandemic equilibrium. Disequilibrium can mean, postshock, that sectors follow different paths of adjustment. The public and politicians appear to desire that economic activity returns to prepandemic norms—but this is far from assured. In the case of the Canadian agri‐food industry, the postshock path of adjustment appears to be returning to the preshock equilibrium, or near to it. This provides a familiar and stable anchor for those whose lives are otherwise considerably disrupted by the pandemic. The multilateral international trade system has long been in need of reform—reforms that would benefit Canada's agri‐food exporting sector. The pandemic has raised trade issues that require urgent action and some countries see this as an opportunity for reform. Canada has been at the forefront of this activity through the fostering, hosting, and chairing of the Ottawa Group of 13 World Trade Organization members that have been charged with bringing forward proposals for reform that will break the log jam in multilateral negotiations. The work of the Ottawa Group is examined and the likelihood of the initiative succeeding assessed.