USDA is currently projecting an agricultural trade deficit of $17 billion for the current marketing year. That compares to an average trade surplus of $12.5 billion each year over the past ten years. A coalition of 35 farm groups has sent a letter to President Biden recommending changes to boost U.S. food and agricultural exports. Land O’Lakes President and CEO Beth Ford outlined the current challenges during a meeting of the President’s Export Council. Recomendations include the diversification of the supply chain and the establishment of a robust trade agenda. “We ask the administration to expand domestic trade promotion programs for traditional and specialty crops, recommit to comprehensive trade agreements where possible and eliminate tariff and non-tariff trade barriers within priority regions and markets.” The groups included in this coalition include Farm Bureau and commodity groups representing corn, soybeans, wheat, milk, pork, dry beans and more.
