U.S. agricultural trade deficit could grow to record high

Jan 16, 2024
Food exports are doing well, but imports are up. The strong dollar is part of the equation.
For the third time in five years, the U.S. will import more agricultural products than it exports. Above, a Cargill worker blows excess soybeans off the top of a river barge and closes the barge’s loading lids.
Tristen Rouse/STLPR

Why U.S. agricultural exports are down almost 20% from last year

Sep 29, 2023
In August, agricultural exports were about 20% lower than the same time a year ago, according to the Commerce Department. That's because export volumes have fallen, and ag prices are coming off of recent highs.
"We have soybean exports down, corn exports are down, wheat exports are down," said Naomi Blohm, senior market advisor with Total Farm Marketing.
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A weakening dollar is good news for exporters, bad news for importers

Dec 5, 2022
The greenback's strength has made it tough for U.S. businesses to compete overseas.
While some American exporters are already benefiting from the weakening dollar, it's making imports pricier. Above, the Port of Los Angeles on Nov. 16.
Mario Tama/Getty Images

Strong U.S. dollar presents problems for much of the world

Sep 28, 2022
Good for U.S. tourists and importers. Bad for exporters and fragile world economies.
A teller in Lebanon holds U.S. currency. The strong dollar is affecting imports, exports and foreign countries' debts.
Anwar Amro/AFP via Getty Images

Biden pressures China on commitments to buy U.S. goods and services

Nov 16, 2021
This is part of the phase one trade deal China signed with the Trump administration. But those goals may have been unrealistic.
President Joe Biden meets with Chinese President Xi Jinping during a virtual summit Monday.
Mandel Ngan/AFP via Getty Images

Import prices declined unexpectedly in August

Sep 15, 2021
These prices may be a bellwether of where domestic or worldwide inflation are headed, says Cornell economist Eswar Prasad.
A container vessel passes under the Verrazzano-Narrows Bridge in New York. Although import prices eased in August, they were up 9% year over year.
Timothy A. Clary/AFP via Getty Images

American manufacturers cope with the loss of EU tariff exemptions

Duties seem like a thing between countries, but individual businesses often wind up holding the economic bag.
Rail cars loaded with rolled up steel at ThyssenKrupp Schwelgern steel plant on May 30, 2018, in Duisburg, Germany.
Michael Gottschalk/Getty Images

For public good, not for profit.

Is a border adjustment tax illegal?

Mar 15, 2017
It very well could be.
Under the GOP plan, the border adjustment tax amounts to a 20 percent tax on imports.

Economists outraged by Trump plan to 'cook the books'

Feb 21, 2017
The White House may ask for changes to trade deficit and economic growth data.
President Donald Trump's administration is said to be considering changes to the way the trade deficit is calculated.
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Moving manufacturing jobs to Mexico isn't a bad thing

Aug 26, 2016
To produce commodities, Mexico has to consume a chunk of U.S. goods.
Los Angeles Times reporter Natalie Kitroeff says that Mexico's manufacturing boom is good news for workers in the United States. 
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