The U.S. is facing a record-large agricultural trade deficit in 2024. In a recent Newsline, Betty Resnick, an economist at the American Farm Bureau Federation, says the deficit has deepened significantly in the last two years.
Betty Resnick, an economist at the American Farm Bureau Federation, says the deficit has deepened significantly in the last two years…
She says there are many challenges contributing to the ag trade shortage, declining commodity prices, a strong U.S. dollar, and increasing foreign competition hampering U.S. exports. All at the same time, imports are continuing to grow as we consume more and more horticultural products, including fresh fruits and vegetables, and alcoholic beverages from our trading partners.
However, Resnick says there are things the administration and Congress can do to improve the situation…
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