Understanding the Agricultural Trade Deficit and Its Implications for U.S. Farmers

Understanding the Agricultural Trade Deficit and Its Implications for U.S. Farmers

Agricultural trade in the United States is on track to experience a deficit for the third time in five years. As of November 2023, the U.S. has imported $20 billion more in agricultural products than it has exported, which could set a record for the largest deficit in a calendar year in nearly a century…