Geoff Edwards, senior lecturer in agricultural economics at LaTrobe University, Melbourne, Australia, points out that viewing solely the domestic consequences of U.S. farm programs ignores their important international consequences on other producing and consuming nations. Edwards compares the U.S. and Australian agricultural sectors’ importance for their respective economies. He then assesses the effects of U.S. agricultural policy instruments on U.S. producers and other nations. Finally, he summarizes some evidence on the net benefits and costs of various agricultural trade liberalization schemes by the United States, Japan, and the European Community.