Forced to adjust to new economic realities, New Zealand farmers cut costs, diversified their land use, sought non-farm income opportunities and altered production as market signals advised — for example, by reducing sheep numbers and boosting cattle ranching. Farmers were aided on the cost side as input prices fell, because suppliers could no longer count on subsidies to inflate demand.

The Colombia FTA would immediately eliminate tariffs on over half of all U.S. agricultural exports to Colombia by value, with almost all of the rest to be phased out over the next five years. But Pelosi is holding the agreement hostage to a list of unspecified and unrelated demands.