FOR IMMEDIATE RELEASE
June 15, 2016
Contact: Paola Masman, Media Director
202-688-5145 ext 2, [email protected]
Government report: agricultural trade balance worsens by 62 percent from last year despite trade agreements
A new report by the US Department of Agriculture reveals that the US agricultural trade balance is drastically worsening. Agricultural exports are down and imports are up from last year.
The report, entitled “Outlook for U.S. Agricultural Trade No. (AES-92)“, discloses a continuing agricultural import surge for the beginning of 2016. Importantly, the USDA projects the US agricultural trade surplus to decline by a whopping 62% in 2016 in comparison to last year. The 2015 ag trade surplus was $25.7 billion whereas the 2016 surplus is projected to be only $9.7 billion.
“America’s trade agreements are performing very poorly for farmers and ranchers. Witnesses in yesterday’s Ways and Means Committee hearing on agricultural trade missed an opportunity to discuss why our trade performance is worsening even as we have more trade deals than ever,” says Michael Stumo, CEO of the Coalition for a Prosperous America. “Congress needs to focus on balanced trade for the US.”