Much uncertainty surrounds the Uruguay Round of Trade negotiations, especially with respect to agriculture. Negotiations are continuing. However, the outcomes are far from certain. Failure of this round of trade negotiations would not mean an end to GATT. Importantly, the existing environment for agricultural trade would not be immediately changed. Longer term effects are unclear. The biggest loss for U.S. agriculture would be the failure to realize the economic growth in developing countries that a successful Uruguay Round would stimulate and increasing market opportunities that would result from reductions in trade distorting subsidies and import barriers of developed countries.