The America First Policy Institute (AFPI) has released a new agricultural policy brief at the Midwest Agricultural Export Summit in South Dakota. The document, authored by Kip Tom and Tate Bennett, addresses the theme of "Fixing the Agricultural Trade Deficit." Titled "Driving Rural Prosperity by Reducing the U.S. Agricultural Trade Deficit," it highlights how recent trade policies have not prioritized farmers and ranchers, contributing to a weakening rural economy.
Kip Tom, former U.S. ambassador to the United Nations Food and Agriculture Agencies in Rome, emphasized the importance of global market access for farmers and ranchers. He said, "Ensuring and expanding global market access for our farmers and ranchers and addressing the unfair trade practices and barriers to our best-in-class agricultural products and production practices has never been more important."
The brief notes that farming is suffering from persistent trade deficits despite historical surpluses over the past 60 years. The U.S. Department of Agriculture projects a $50 billion agricultural trade deficit by 2025 without policy changes.
AFPI recommends five actions: implementing tariff policies to reduce trade barriers, opening new markets through partnerships, enforcing trade agreements, monitoring unfair practices, and increasing domestic consumption of U.S. products.
The current administration has made progress with recent trade deals involving countries like the United Kingdom, European Union, Japan, Philippines, Indonesia, South Korea, and Vietnam. AFPI's recommendations aim to build on these achievements for America's farmers under its Farmers First Agenda.
Information from this article can be found here.
