U.S. agriculture had a $2.4 billion trade deficit in 2022, its first shortfall since 1959. Over the previous 10 years, U.S. agriculture has had an average trade surplus of $12.5 billion. USDA is predicting an agricultural trade deficit of $17 billion this year.
Because of this, more than 30 agricultural organizations, including the National Pork Producers Council (NPPC), got together this week to send a letter urging the President’s Export Council to adopt a proposal to “expand export markets opportunities for U.S. food and agriculture, eliminate unwarranted non-tariff barriers, and reinforce global food security.”
NPPC reports in the latest Capital Update that with U.S. food and agricultural exports down 9% in value and 16% in volume, the food and agriculture organizations asked the council to:
•Ask the Biden administration to diversify sourcing and/or incentivize cost-effective U.S. production of agricultural inputs such as fertilizers, vitamins, and chemicals to maintain U.S. agricultural production.
• Establish a robust agricultural trade agenda that includes expanding domestic trade promotion programs, recommitting to comprehensive trade agreements, and eliminating tariff and non-tariff trade barriers.
• Enforce existing trade agreements, including by strengthening the World Trade Organization dispute resolution process.
• Urge the U.S. government to promote a unified message on agricultural sustainability that focuses on voluntary, incentive-based programs that support sustainable productivity growth, keep food accessible, support climate-smart agricultural practices, and provide additional market opportunities.
Big Business
In 2023, the U.S. food and agriculture sector contributed more than $2.6 trillion in total wages and generated more than $8.6 trillion in total economic output, NPPC notes. Significant portions of that are because of exports, which annually are about 20%. Through September, food and agricultural exports were close to $127 billion.
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