An ag group agrees that President Trump needs to address the trade deficit, but doing so without hurting the ag surplus could become a challenge.
The president of the National Farmers Union says as Trump focuses on trade, he needs to address the trade deficit.
Roger Johnson says is is debilitating to the nation’s economy.
“It’s over a half a trillion dollars a year,” he says. “It’s a 3 percent drag on our GDP, it’s 2 to 5 million jobs that don’t exist in the US.”
But the trade deficit can’t be fixed if the ag trade surplus is broken in the process.
Johnson says relationship with countries like Mexico have been damaged and now they’re shopping for ag goods elsewhere. The loss of those market shares would result in a decline in the ag trade surplus.
Source: brownfieldagnews.com