This new CPA economic report is a damning indictment of how decades of free trade policies have hollowed out America’s agricultural sector, benefiting a handful of corporate giants while leaving family farms to bear the brunt of a failed experiment.
Food imports into the U.S. are on the rise. The trend now is for agricultural commodity trade deficits, rather than surpluses, with key commodities like beef usually in a deficit. Despite the increase in food imports, the Food and Drug Administration conducted far fewer than the annual goal of 19,200 inspections, according to FDA data.
The United States is now on pace to reach a $39 billion agricultural trade deficit in 2024 amid all-time record imports.
Senator Michael Crapo (R-ID) is already setting his agenda: renewing the Tax Cuts and Jobs Act (TCJA), expiring this year, and new trade deals that open agriculture markets to U.S. exports.
Widely regarded as one of the nation’s leading experts on tariffs, industrial policy, economic modeling, and trade policy, Ferry’s contributions to CPA and the broader economic policy landscape have been transformative.
CPA will be working closely with President-Elect Trump’s team to craft policies that will make a lasting impact on U.S. trade and industrial policy.
John Deere will lay off or offer early retirement to over 200 workers in Iowa, while at the same time the tractor producer is gearing up to move production of mid-frame skid steer loaders and compact loaders from its plant in Dubuque, Iowa to a proposed new facility in Mexico.
The steaks and hamburgers you put onto your grill this summer are less American than one might think. In fact, the U.S. imports almost as much beef as it exports as global meatpackers continue to turn to imported beef, based on USDA data year-to-date.
Contrary to what many on the Senate Finance Committee believe, American farmers did gain market access in the last three years under Biden.
USTR Katherine Tai was repeatedly taken to task by farm state senators in Wednesday’s Senate Finance Committee hearing for what they see as lackluster attempts at opening markets for U.S. agriculture exports.
