Senators concerned over growing agricultural trade deficit

(The Center Square) — U.S. agricultural trade exports declined by $17 billion in fiscal year 2023, raising concerns from U.S. senators about how the Biden administration will address the issue.

The deficit is growing and will decline by another $8 billion in fiscal year 2023, the senators said in a letter to U.S. Trade Representative Katherine Tai and Agriculture Secretary Tom Vilsack.

“As a result, the U.S. agricultural trade deficit is projected to reach a record $30.5 billion in FY 2024,” the senators said.

The Biden administration’s trade strategy is to blame, they said in the letter.

“While the Biden administration continually refuses to pursue traditional free trade agreements, China, Canada, the European Union, the United Kingdom, and others continue to ink trade pacts that diminish American export opportunities and global economic influence,” the senators said. “International trade is critical to the continued success of U.S. agriculture.”

South Dakota and North
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