Pulaski Times

U.S. Senator John Boozman (R-AR), ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, issued a statement following the U.S. Department of Agriculture's (USDA) latest outlook projecting a record negative agriculture trade deficit for fiscal year 2025.

"We have entered uncharted territory with the latest projected data on the U.S. agricultural trade deficit," Boozman stated. "The Biden-Harris administration is failing our farmers, ranchers and foresters when it comes to maintaining our competitive advantage in the global marketplace."

Boozman emphasized the need for more active engagement and advocacy from the current administration. "The President and his team simply must do more to actively engage and aggressively advocate for our agriculture producers on the world stage. There is just no way around it," he added.

He also called on Congress to pass a new farm bill that significantly invests in USDA’s trade promotion programs. "Congress must also step up to the plate and pass a new farm bill that makes a robust investment in USDA’s trade promotion programs. The framework Senate Republicans released doubles funding for the Market Access Program and the Foreign Market Development Program, the farm bill’s premier trade promotion programs. This is an excellent place to start. Anything less is yet another step in the wrong direction."

According to USDA projections, the agricultural trade deficit will grow from $30.5 billion in FY 2024 to $42.5 billion in FY 2025, setting a new record. U.S. agricultural exports are expected to decrease by $4 billion from FY 2024 levels, reaching their lowest point since FY 2020 at $169.5 billion, while imports are projected to rise by $8 billion from FY 2024 levels, hitting a record high of $212 billion.