trade deficit

How Trump's Team Used Trade Deficits to Calculate Tariff Rates
How Trump's Team Used Trade Deficits to Calculate Tariff Rates
How Trump's Team Used Trade Deficits to Calculate Tariff Rates
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
USDA Trade Deficit Continues To Grow
USDA Trade Deficit Continues To Grow
USDA Trade Deficit Continues To Grow
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...
Farm Trade Deficit Continues To Grow
Farm Trade Deficit Continues To Grow
Farm Trade Deficit Continues To Grow
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...
Why Does The Ag Trade Deficit Continue To Grow?
Why Does The Ag Trade Deficit Continue To Grow?
Why Does The Ag Trade Deficit Continue To Grow?
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 ...
Kenner: Numbers Don't Show Whole Story Of Trade Deficit
Kenner: Numbers Don't Show Whole Story Of Trade Deficit
Kenner: Numbers Don't Show Whole Story Of Trade Deficit
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...
USDA: 2022 A Big Year For Ag Exports
USDA: 2022 A Big Year For Ag Exports
USDA: 2022 A Big Year For Ag Exports
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 Economist Not Worried About Potential Ag Trade Deficit
USDA Economist Not Worried About Potential Ag Trade Deficit
USDA Economist Not Worried About Potential Ag Trade Deficit
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...

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