U.S. Trade Deficit Set to Drastically Increase

July 2, 2024

July 2024 FloridAgriculture eNewsletter

The United States agricultural trade deficit is set to increase substantially to $32 billion in the 2024 fiscal year. This is a $1.5 billion increase from the February projection, according to the USDA Economic Research Service’s May 2024 Outlook.

After learning of this concerning increase, the Florida Farm Bureau Board of Directors requested a draft letter be sent to U.S. Trade Representative, Ambassador Katherine Tai and the Secretary of the United States Department of Agriculture, Tom Vilsack.

Members can read the letters here. Any questions should be directed to Director of National Legislative Affairs Lance Watson.

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