The U.S. agricultural trade deficit widened further in July, highlighting the challenge facing President Donald Trump as he vows to reverse the trend. Agricultural exports lagged imports by $4.97 billion in July, a gap 9% wider than a year earlier and the largest on record for the month. According to data released Monday by the U.S. Department of Agriculture That pushed the sector’s deficit to an unprecedented $33.6 billion for the first seven months of the year.
The widening farm trade gap this year has been mostly driven by a jump in imports, just as Trump slapped tariffs on other countries in a push to shrink the overall deficit. That further cements a shift that has been building since the president’s first term, with a sector that has long run major trade surpluses becoming a consistent net importer.
-NAFB