U.S. Agricultural Trade Deficit Widens

The agricultural trade deficit is expected to worsen in the years ahead. A new study from the University of Illinois and Texas Tech University shows the U.S. is importing far more than it exports. Researchers say the decline began after the 2017–2018 trade dispute with China, which caused U.S. export values to drop by $14 billion. In that year, soybean exports fell 73 percent, while wheat, corn, and sorghum also saw steep declines. The U.S. continues to lose market share to competitors like Brazil, Canada, Australia, and Ukraine, though new trade agreements could help offset some of those losses.