Bilateral vs Multilateral Tariff Liberalization in Milk (volume changes)

Bilateral (Can and EU) Multilateral (All)

Canada EU ROW Canada ROW

Milk Production

-1837 2282 -212 -1852 2277

Milk imports

2321 192 3 2409 11238

Milk exports

397 2287 -167 893 12754

Bilateral vs Multilateral Tariff Liberalization in Milk (% changes)

Bilateral (Can and EU) Multilateral (All)

Canada EU ROW Canada ROW

Unskilled labor in Milk

-24.72 1.96 -0.10 -24.93 -1.26

qGDP 0.08 -0.007 -4E-05 0.11 0.004

Welfare Decomposition

Unilateral

(Agro-Proc)

Bilateral

(Milk with EU)

Multilateral

(Milk with all)

Allocative efficiency

1198 578 844

Terms of trade

-968 -342 -320

IS 89 39 36

Total Canada

319 274 560

Total World 847 4.57

(EU is -319)

1164