Ag Trade Deficit Down
From the Western Ag Network, I’m Bob Larson. Despite controversy over the president’s trade policy, USDA Undersecretary for Trade and Foreign Agricultural Affairs Luke Lindberg says the administration’s overseas efforts are paying off for agriculture.
Lindberg says the agricultural trade deficit has come down dramatically …
LINDBERG … “The agricultural trade deficit, a staggering 50-billion-dollar number, we have cut that trade deficit in half.”
And while the president’s tariff policy remains controversial, most recently with Canada, Lindberg argues that it has produced results …
LINDBERG … “He’s signed ten new trade agreements into place and nine framework agreements.”
Boosting many farm exports including value-added goods like ethanol …
LINDBERG … “This year, we are breaking a record on U.S. ethanol exports around the world. Best year ever. And I’m very optimistic that we will continue to see tremendous growth on our biofuels' footprint overseas.”
Lindberg says extensive trade missions and record export sales this year in several markets are building export “resiliency” …
LINDBERG … “So, the more that we can sell to more buyers, the more open markets are for our producers to reach, the more opportunity they’re going to have in the future, and the less trade disruption from potential buyers down the road.”
And with Canada now in question, USDA still expects continued strong sales in the EU, Japan, China, and Mexico, with livestock, dairy, grain, feeds, oilseeds, and horticulture topping the list.
