By Chad Hart, Wednesday, September 18, 2019
Chad Hart is an extension economist and associate professor of economics at Iowa State University. Chad is a native of southwest Missouri, growing up on a rural homestead near Stark City, Missouri. He received his Ph.D. in economics and statistics in 1999 from Iowa State University. His work has concentrated on crop marketing, crop insurance, international trade agreements, and bioenergy policy. Chad is also a partner in FarmRisk, an Iowa firm that develops revenue insurance products for agriculture.
Over the course of the past couple of years, there has been a lot of conversation about international trade and the benefits/costs from it. From the renegotiation of the North American Free Trade Agreement (NAFTA) to the volley of tariff announcements between the U.S. and China, international trade policy is in a state of flux. That uncertainty has direct and indirect impacts for the Iowa economy, as Iowa’s (and the U.S.) agriculture sector has developed to meet international needs. In this discussion, we will explore the current set of trade agreements, disputes, and organizations; examine how Iowa agriculture fits in the global economic system; and outline the benefits and costs from international trade.