After decades of substantial U.S. agricultural trade surpluses, the U.S. is forecast to experience a record trade deficit for the second year in a row. American Farm Bureau Federation economists analyzed the factors contributing to the deficit in their latest Market Intel report.
According to the analysis, the forecast $32 billion deficit is caused by a multitude of factors, one of which is rising imports of fresh fruits and vegetables. American produce farmers face significant challenges in competing with less expensive foreign-grown produce, most notably a lack of affordable and available farm labor.