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The US with the share of agriculture in GDP at 1% and its share in total employment a tiny of 0.5%. Since having a very small percentage of people engaged in agriculture, US give a massive sums of money to its farmers for the production as well as for exports. Due to this massive sums of money they receive, US farmers sell the farm products at abnormally low prices.This affect the farmers of countries where they sell their products.If they are selling their products at low price then how it affect the economic of the countries to whom they are selling?  
Asked by roysubarna2016 | 23 Mar, 2019, 10:47: PM
answered-by-expert Expert Answer
This situation is generally termed as ‘dumping’ in international trade.  It occurs when a country or company exports a product at a price that is lower in the foreign market than the price in its domestic market.
  • The farmers in these countries suffer as they are not able to compete with the price of the foreign products. As a result, income of the farmers are affected as the demand for foreign products increase since the prices are low as compared to domestic price. This results in poverty, widespread unemployment etc.
  • The economy which also suffers as dumping stagnates the domestic production market. Economies that are agrarian in nature suffer as their primary sector is hampered.
Answered by Christina | 25 Mar, 2019, 11:25: AM

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