A COMPARISON OF AGRICULTURE IN THE UNITED STATES AND THE EUROPEAN COMMUNITY

The United States and the European Community are major competitors in international agricultural markets, major trading partners, and important allies. This report identifies and analyzes similarities and differences in U.S. and EC agriculture, including trade and domestic farm policies. Agriculture accounts for a larger share of employment and national income in the European Community than in the United States. The enlarged EC has just passed the United States as the world's largest agricultural exporter. The EC is also a market for one-fourth of U.S. agricultural exports. Costs of supporting agricultural prices and agricultural stocks have rapidly grown in both regions, leading to pressure to examine policy reforms