1、 https:/crsreports.congress.gov December 29, 2017Agricultural Trade Balances Under NAFTAA focus on trade deficits has emerged as an important fixture of the Trump Administrations trade policy, including its ongoing review of the North American Free Trade Agreement (NAFTA). Merchandise trade deficits
2、 (or surpluses) refer to an accounting of the net balance of exports and imports of goods. In agricultural trade, the U.S. Department of Agriculture (USDA) reports that the United States had a trade surplus of $20.3 billion in 2016 based on total U.S. agricultural exports of $134.9 billion worldwide
3、 compared to imports of $114.6 billion. This aggregate surplus, however, masks trade deficits for some product categories or within some markets. The value of U.S. agricultural trade with its NAFTA partnersCanada and Mexicohas increased sharply since NAFTA was implemented. Total U.S. agricultural ex
4、ports under NAFTA rose from $8.7 billion in 1992 to $38.1 billion in 2016. U.S. imports also rose from $6.5 billion to $44.5 billion. This resulted in a $6.4 billion trade deficit for U.S. agricultural products in 2016. In general, the U.S. agriculture trade balance with NAFTA countries has fluctuat
