trade surplus

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's current Ag export forecast for the current fiscal year, which comes to an end September 30th, calls for a record $191 billion of ag sales overseas. "Would be, if realized, an 11% over 202." So, are American producers going to hit that $191 billion mark...

The latest complete Ag trade numbers, which come from June, show the United States had a good export sales month.  USDA Economist Bart Kenner said export dollar value was very solid. "Agricultural exports for June '22, were $16.2 billion which was a 24% increase over June '21." ...

On the trade front, the USDA is out with the latest numbers for the first eleven months of calendar year 2021. "Agricultural exports through November of 2021 were $160.6 billion; a 20% increase from 2020," noted USDA economist, Bart Kenner, adding for the first eleven months of last year, wheat exports were running 16% ahead of the same time frame in 2020, and even more impressive: &quo

The USDA now has all of the trade numbers from Fiscal Year 2021. As the books closed at the end of September, numbers showed the U.S. exported just over $172 billion worth of Ag products. That's $32.5 billion more than in 2020. "A good increase and far and away a record," noted USDA economist and trade tracker, Bart Kenner ...

You may have heard that the United States racked up a record trade deficit in June. The U.S. purchased $75.7 billion more than was sold. It was the same general pattern when you look at food and agricultural products. "Another record month for agricultural imports," noted USDA Economist, Bart Kenner ...

On Thursday, the Senate Agriculture Consider will consider the nomination of Jennifer Moffitt to a Department of Agriculture post. President Joe Biden nominated Moffit as undersecretary for Marketing and Regulatory Programs at USDA. Committee Chair Debbie Stabenow and Ranking Member John Boozman announced the hearing, set for Thursday morning ...

A significant international development that could have a big impact on American farmers is China's strong demand for protein.  Fred Gale, with USDA's ERS, said importing meat to China has kind of taken everyone by surprise. "Back in 2010 we projected that China would be importing roughly one million tons of meat by now.  An ...

USDA's new trade forecast for Fiscal year 2021 is for a $16 billion increase in agricultural exports compared to this last season, possibly up to a $152 billion of exports. In addition, "We are seeing an increase in exports of agricultural goods as well," noted USDA's Chief Economist, Rob Johannson ...

According to the latest numbers from the USDA, the U.S. continues to enjoy an Ag trade surplus with other nations; but that surplus is shrinking. When comparing the first eight months of the current fiscal year with a year earlier, "exports are every so slightly down and imports are slightly up," noted USDA Economist, Mark Kenner. He... Read More ...