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Dec. 2, 2024 Agri-Pulse reports: It's no secret that U.S. farmers and ranchers need both domestic and international markets to be profitable, but the people who process, transport and ship U.S. farm products benefit, too. U.S. agricultural trade supports jobs up and down the supply chain, from the local elevator to railroads, trucks and barges, to ports spread from Savannah, Georgia, to New Orleans and the Pacific Northwest, and finally to the ships, trains and trucks that carry the products to their ultimate foreign destinations. USDA estimates that for every $1 billion in U.S. agricultural exports in 2022, more than 6,300 were supported throughout the economy. Overall, ag exports that year required 1.25 million full-time civilian jobs, which included more than 773,000 jobs in the non-farm sector. "With so much discussion about trade and tariffs from the incoming Trump administration, we thought a deeper dive into the economics underlying trade flows and new markets would be helpful," said Agri-Pulse Founder & Publisher Sara Wyant. "This three-part series, which will be launched today, should be a 'must read' for anyone looking at not only our current trade deficit but what will be required to open up new markets in the future." The Agriculture Department recently projected that the U.S. agricultural trade deficit will widen this fiscal year to $45.5 billion, the largest on record and an increase from the August quarterly forecast, as imports grow faster than expected. This special editorial series is sponsored by the National Association of State Departments of Agriculture, the National Corn Growers Association, Terrain and its participating Farm Credit Associations - AgCountry Farm Credit Services, American AgCredit, Farm Credit Services of America, and Frontier Farm Credit. To read part one of the new series click here. About Agri-Pulse Communications, Inc. Agri-Pulse is the most trusted source for farm and rural policy information. With offices in Washington, D.C., Sacramento, Calif., and Camdenton, Mo. We provide a balanced perspective on a wide variety of issues, including the farm bill, nutrition, trade, labor, food safety, water, environment, biotechnology, organic, conservation, and crop insurance. Agri-Pulse publishes a subscription-only e-newsletter, the Agri-Pulse Daily Harvest early morning news summary, Agri-Pulse Daybreak, Agri-Pulse DriveTime podcast, Agri-Pulse Newsmakers and breaking news on www.Agri-Pulse.com. Tweet |
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