World Perspectives

Ag Trade Deficit Spurs Interest in Trade Promotion Authority

U.S. ag exports hit a record $196 billion in FY 2022. For FY 2023, however, the latest forecast from USDA in February puts exports at $184.5, down $5.5 billion from the November forecast. Moreover, ag trade is expected to be a deficit of $14.5 billion in FY 2023. Imports are forecast at $199 billion, unchanged from the November forecast.  At a Senate Agriculture Committee hearing last Thursday, Ranking Minority Member John Boozman (R-Arkansas) noted those forecasts, saying, The headwinds for our producers are great. For only the third time in 55 years we’re expected to have a trade deficit in agriculture and no new trade deals have been signed or are under negotiation.

Two of those years were 2019 during the U.S. China trade...

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From WPI Consulting

Accountability and a comprehensive approach to export programming

WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.

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