May is World Trade Month

May is World Trade Month, and this is World Trade Week on the calendar. The USDA says it’s the perfect opportunity to highlight the importance of trade to the farm sector and the nation as a whole. Roughly about 20 percent of all U.S. agricultural production gets exported, providing a critical source of farm income, supporting over a million jobs, and generating nearly $200 billion in additional economic activity each year in our rural communities and beyond. U.S. agricultural imports have grown significantly, posting the three highest years in history from 2001-2004. Some of the agency’s trade policy and market development work is behind the scenes, including efforts to knock down trade barriers like India’s tariffs on U.S. poultry and berries which were reduced in March. Some of the work is more forward-facing, like the trade missions and trade shows that put producers and exporters in direct contact with potential customers.

Source: NAFB