An ag economist says the U.S. ag trade deficit has increased.
University of Missouri’s Ben Brown says, “Historically, the ag industry I think has really celebrated that while there was a national trade deficit for all products, agriculture had a positive story to tell,” Brown said. “Meaning we exported more products away from the United States than what we imported. That has changed.”
USDA data shows U.S. ag exports in June were more than $12.7 billion compared to $15.9 billion in imports, and the calendar year deficit is more than $9.9 billion.