USDA: Ag trade deficit expected to reach a record $42.5 billion in 2025

The U.S. agricultural trade deficit is expected to reach a record high of $42.5 billion in fiscal year 2025, well above a record 2024 level, the Agriculture Department is projecting, reigniting GOP criticism that the Biden administration's trade policy has fueled higher imbalances. In its latest quarterly “Outlook for U.S. Agricultural Trade” report , issued on Tuesday, the department projects the U.S. will import $212 billion worth of agricultural products and export $169.5 billion worth in FY2025, yielding the highest-ever...