In 1994, the world's trading nations agreed to

A) increase export subsidies to reduce world surpluses of farm products.
B) reduce agricultural subsidies and tariffs on agricultural imports.
C) eliminate all price supports for farm products.
D) create an international farm price support system to replace the price support systems of individual countries.

Agricultural Subsidies

Financial incentives provided by the government to support farmers, ensuring agricultural stability, affecting production levels and pricing.

Tariffs

Taxes imposed on imported goods, often intended to protect domestic industries from foreign competition.

Agricultural Imports

Goods brought into a country that are products of agriculture, such as grains, fruits, and vegetables, which can affect the domestic agricultural market.