trade deficit

USDA reported an increase in American farm exports in the month of March.   “Ag exports were at 16.1 billion, which is 3% above last year and 18% above February,”  said Ag economist James Kaufman, citing the latest USDA trade outlook.   He noted, in addi...

President Trump’s administration calculated its raft of new tariffs primarily based on existing trade balances — a departure from pledges to match the tariff rates and other trade barriers from other countries.  In a statement published last week to explain its methodology for tariffs that rocked the globe, the United States Trade Representative detailed a formula that divides a country’s trade su

The USDA is out with the latest trade data for the current fiscal year.  Agriculture Department economist Bart Kenner takes a look at the latest export and import projections from October to January.   “Agricultural exports for fiscal year to date were $64 billion, up 2% from the previous year," he noted.  "Agricultural impo...

The margin between U.S. Ag exports and imports in the 1st 11 months of 2024, USDA economist Bart Ketter said the January Ag export forecast covering January through November of last year, shows.   “Total agricultural exports for $159.8 billion,...

The USDA is projecting another record Ag trade deficit this fiscal year as imports surge and exports lag.  USDA Chief Economist Seth Meyer says this is the 3rd year of this current trend.   “From ’23 to ’24, we saw more than a 10-billion-dollar year-over-year increase. This year, we’re looking at som...

While the dollar value of U.S. food and Ag exports is falling.  “The import value has increased steadily over time and continues to do so,” said USDA economist Bart Kenner.  He added Ag exports are running about 3% below last year at this time, while the value of foreign agricultural products coming into the U.S. is up by 5%.  He said there ...

Fiscal year 2025 could be one of belt tightening, especially for farmers who depend on exports.  USDA is projecting 2025 exports at $169.5 billion; down $4 billion from this current year, and down $26 .5 billion from two years ago.   “...

U.S. agriculture is currently running a trade deficit of almost $19 billion and growing.  And while some say this reflects a weak noncompetitive American farm sector, one expert says that doesn’t tell the whole story.   “To look at the trade balance and say it's negative, so we're being outcompeted. It's, it's really oversim...

The USDA is out with the final Ag trade numbers from December, closing the books on 2022.  USDA’s Bart Kenner said December was a record December for exports $17 billion worth of sales.  He said that puts calendar year 2022 export sales at a record high $196 billion beating 2021's record by $20 billion, but he noted, “most of the gains in exports came from unit value increases from higher prices a

USDA is forecasting an agricultural trade deficit in 2023.  While deficits have happened in the past, the agency has never forecast one in advance until this year.  The agency says ag exports are projected to reach $190 billion next year, but imports are projected to rise to $199 billion.   Seth Meyer...