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The trade tides are turning and the U.S. is expected to import more agricultural goods than export this year. As it stands, we are looking at a $700 million deficit, which is expected to grow to $17 billion by the end of the year. USDA Economist Bart Kenner explains it has to do with the strong value of the dollar.
On Wednesday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department's Foreign Agricultural Service (FAS) a
Economists are warning U.S. ag products will not be as competitive with other countries this year and it is all because of the strong dollar. They say ag exports for October through March, fiscal year 2023 or $100.2 billion are down 1 percent from 101.6 billion this time last year.
On Tuesday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department’s Foreign Agricultural Service (FAS) and Economic Research Service (ERS). Today’s update includes highlights from the report, which was coordinated by Bart Kenner, Hui Jiang, Dylan Russell and James Kaufman.
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