Abstract
When former Secretary of Agriculture Clayton Yeutter accepted the position, two clear priorities for his term were evident. The first, domestic, priority was to move as far as possible in the direction of a safety-net program for farm income suport in the 1990 farm bill. The second, trade-related, priority was to put together an acceptable package in the Uruguay Round of multilateral trade negotiations, in which agriculture would play a central role. This short paper reviews the progress of both of these efforts to date, and assesses the impacts of this progress on the commodity composition, income, and asset values of American agriculture. This assessment is qualitative. The detailed numerical estimation of these effects is left to
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