Ag Trade Deficit Hit Another Record High in July

The U.S. agricultural trade deficit widened further in July, highlighting the challenge facing President Trump as he vows to reverse the trend.  Agricultural exports lagged imports by $4.97 billion in July, a gap 9% wider than a year earlier and the largest on record for the month.

According to USDA data released Monday, that pushed the sector’s deficit to an unprecedented $33.6 billion for the first seven months of the year.  The widening farm trade gap this year has been mostly driven by a jump in imports, just as Trump slapped tariffs on other countries in a push to shrink the overall deficit. 

That further cements a shift that has been building since the president’s first term, with a sector that has long run major trade surpluses becoming a consistent net importer.

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