Agricultural trade barriers and subsidies hurt countries and their trade partners by reducing demand, causing oversupply, and increasing competition. Removing these distortions could lead to a $56 billion global welfare gain. High tariffs are the main obstacle to world trade. In 2000, the WTO started negotiations to reform agricultural policies globally. The report quantifies the costs of these distortions and the benefits of eliminating them. Partial reform could still benefit U.S. and world agriculture.