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The U.S. Department of Agriculture says new international trade agreements are designed to create additional export opportunities for American agriculture as officials work to reduce the nation’s agricultural trade deficit.
According to USDA information released this month, agreements with countries including Taiwan, Bangladesh, Ecuador and Guatemala are expected to improve market access for U.S. grains, meat, dairy and specialty crops. USDA officials said some agreements reduce tariffs and simplify import regulations for American products.
The department also highlighted progress in negotiations involving China, Japan and the United Kingdom. Officials said expanded agricultural trade could help strengthen farm income and rural economies. Agricultural groups welcomed the new agreements but said global competition remains strong, particularly from South American exporters.
Economists noted that reliable transportation systems and stable trade relationships will be important for maintaining export growth.
NAFB news service
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