LUBBOCK, Texas (KCBD) –
The number of Ag exports is surging, meaning good news for the Ag community.
The USDA is projecting the trade deficit will drop to $29 billion in fiscal year 2026, down from $50 billion a year ago.
That’s a $21 billion drop, all because of positive trade deals made within the past year.
“Our goal is to get back to surplus,” said Luke Lindberg, the Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs. “But we’re certainly taking a dent out of that deficit and making sure that as we open up markets around the world, our farmers and ranchers have a fair level playing field to compete on and sell their products into markets and consumers, across the globe.”
The Ag Web Farm Journal reports the three exports with the most notable increases towards the end of last year are dairy, ethanol, and corn.
Lindberg explains that no new trade deals were made under the last administration, which hurt our producers in the global arena.
He says more Americans are leaning toward food that is home-grown, produced, and slaughtered here in the U.S., which will turn into lower prices at the grocery store.
“We’re anticipating fewer imports this year. And again, I think that’s a dramatic shift. It allows our producers to sell their products more effectively here domestically. And for too long we have had foreign subs, these imports coming into the United States and competing unfairly with our producers here domestically, we’re starting to see a shift that supports American farmers selling their products here,” said Lindberg.
Another trade deal on the table that is up for renewal. The trump administration is expected to review the U.S.-Mexico-Canada trade deal.
It outlines rules for duty-free trade among the three countries.
The deal expires in 2036, but officials are expected to meet on July 1st for the first joint review.
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