They also introduce international price risk, even if that risk is lower than the price risk in a protected domestic market. In each case, the most effective way of dealing with these downsides is likely to be through non-trade instruments: targeted social payments to protect against losses, support to farmers in developing risk management tools, and broader investments in productivity to improve incomes and access, and ensure that households are better equipped to cope with adverse shocks. The optimal way of managing these risks is through joint commitments to desist from beggar-thy-neighbour trade restrictions, on both the export side and the import side.