According to the outlook report of the US Department of Agriculture (USDA), the country's agricultural trade deficit could hit a record $49 billion in 2025.
Mexican avocados, the US's largest agricultural import, are expected to continue to rise due to strong demand. (Source: Getty Images) |
Once a global agricultural powerhouse, the United States now imports more food than ever before, a stunning reversal for a country once confident of its abundant food supplies.
The world’s largest economy now faces a future of persistent agricultural trade deficits. Since 2023, the country has imported more food than it exports each year.
Previously, trade deficits only occurred in 2019-2020 - the time of the US-China trade war - and a few years before 1960.
In his first month in office, President Donald Trump pledged to impose 25% tariffs on goods from Mexico and Canada and an additional 10% tariff on goods imported from China.
New tariffs could make the situation even more worrying if other countries retaliate, increasing the cost of food imports and further pushing up agricultural commodity prices.
USDA forecasts U.S. agricultural imports to increase 6.5% to $219.5 billion in fiscal year 2025, with avocados, orange juice, and coffee accounting for most of the increase.
In contrast, Washington's agricultural exports are forecast to fall 2.2% year-on-year to $170.5 billion.
Avocado imports from Mexico, the largest commodity by import volume, are expected to increase due to strong demand and improved growing conditions, according to the USDA.
In addition, high prices for cocoa and sugar are also adding to the import bill of the world's number one economy.
Meanwhile, traditional American crops have lost their appeal overseas over the years. Specifically, Russia has surpassed the United States as the world's leading wheat exporter, and Brazil has surpassed Washington as the largest exporter of corn, cotton and soybeans.
The USDA outlook, based on policies in effect as of Feb. 11, does not include the 70 million to 100 million eggs the country will seek to import to address record prices and the worst-ever avian flu outbreak.
Source: https://baoquocte.vn/chua-bao-gio-nuoc-my-nhap-khau-nhieu-thuc-pham-den-vay-305931.html
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