Trade Deficit Record Pt 2
From the Ag Information Network, I’m Bob Larson. Next year’s anticipated 42.5 billion-dollar farm trade deficit again raises the issue of the administration rejecting market-opening free trade deals.
But few believe that’s the correct path, including retiring Democratic Ag Chair Debbie Stabenow …
STEBENOW-4 = 13 … “I know there are many agriculture stakeholders that sent you a letter urging you to commit to an aggressive agriculture trade agenda. It’s so important that we have those markets. We need those markets, and we need the trade agreements.”
Top Finance panel Republican Mike Crapo (CRAY-po) says U.S. producers have already been hurt by the lack of new trade deals …
CRAPO … “Australia and New Zealand each negotiated free trade agreements with Thailand. And since then, demand for premium U.S. beef fell by 30 percent because our cattlemen face a 50 percent tariff while those two partners face none.”
USDA Chief Economist Seth Meyer blames the record deficit forecast on falling commodity prices, a slower Chinese economy, and the continued strength of the U.S. dollar.
But South Dakota Ag Republican John Thune sees it as even more reason for trade deals …
THUNE … “Market access is what our farmers and ranchers are looking for to open up the markets, so they can sell their products, and get the trade deficit back to a trade surplus and get this net farm income back in the positive column.”
South Dakota Senator John Thune.
