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Shining Light on Farm & Food Policy for 20 Years.
Sunday, February 02, 2025
Agriculture Secretary-nominee Brooke Rollins assured senators Thursday the Trump administration would provide another round financial aid if farmers are hurt by a trade war sparked by increased tariffs. She offered less assurance to farmers concerned about losing workers due to the administration's planned mass deportations.
The Agriculture Department projects that the U.S. agricultural trade deficit will widen this fiscal year to $45.5 billion, an increase on the previous estimate as imports grow faster than expected.
USDA on Wednesday increased its forecast for agricultural imports for fiscal 2024, while projected ag exports remain unchanged at $170.5 billion, boosting the estimated U.S. ag trade deficit to $32 billion.
The U.S. agricultural trade surplus was $812.6 million in August, the highest monthly surplus for 2019 since February’s mark of $929 million, according to data compiled by USDA's Economic Research Service. In three of the past five months, the U.S. has registered a trade deficit.
