About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 1 (January 30, 2024)

handle is hein.crs/goveoeg0001 and id is 1 raw text is: Congressional Research Service informing 1he legislative debate since 1914 Updated January 30, 2024 Farm Bill Primer: Trade and Export Promotion Programs Agricultural exports are significant to farmers and the U.S. economy. With the productivity of U.S. agriculture growing faster than domestic demand, farmers and agriculturally oriented firms rely heavily on export markets to sustain prices and revenue. The trade title of the 2018 farm bill (P.L. 115-334) authorized programs from FY2019 to FY2023 to expand foreign markets for U.S. farmers and food manufacturers through export market development programs and export credit guarantee programs. Congress extended the authorization and funding for these programs through FY2024 (P.L. 118-22, Division B, §102). These market expansion programs derive their statutory authorities from the Agricultural Trade Act (P.L. 95-501). For more information about USDA's export promotion programs, see CRS Report R46760, U.S. Agricultural Export Programs: Background and Issues. The trade title of the 2018 farm bill also includes international food assistance programs and international science and technical exchange programs and provisions, which are not addressed in this In Focus. Trade Situation Overview U.S. food and agricultural exports totaled $196 billion, and U.S. imports totaled nearly $198 billion in 2022, resulting in a trade deficit of more than $2 billion (Figure 1), according to U.S. Department of Agriculture (USDA) data. Bulk commodities, such as soybeans, corn, cotton, wheat, and rice, are the leading U.S. farm exports. Leading consumer-oriented exports include dairy, meat and poultry, tree nuts, fruits, and vegetables. Over 60% of U.S. agricultural exports by value were destined for China, Mexico, Canada, Japan, and the European Union in 2022. Figure 1. Value of U.S. Agricultural Trade U.S. AgricUltural Exports U.S. Agriculturat imports $5 -s Trade Balance $195 Bilins $145 $95 $45 -$5_u- r4 r4 r4 -4 -4 -4 r -4 c 114 rJ o o 0 0 0 0 0 0 0 0 4N .J r. N ~J r~ r.J rJ r4 Source: CRS from USDA's Global Agricultural Trade System data (BICO-10). Data are not adjusted for inflation. Trade balance constructed as imports subtracted from exports. The U.S. agricultural trade surplus peaked at $40.1 billion in 2011. It has since fallen and became a trade deficit in 2019 and 2022. Many attribute the rise in U.S. food and agricultural imports to increasing domestic demand for imported, consumer-oriented goods such as fruits, vegetables, alcoholic beverages, beef, and coffee products. As the margin of exports over imports has narrowed, some producer groups have sought enhanced export promotion and market development. Some U.S. government officials and industry representatives have expressed interest in addressing certain policies of some U.S. trading partners that may be impeding U.S. food and agricultural exports. The Office of the U.S. Trade Representative (USTR) in its annual National Trade Estimate Report on Foreign Trade Barriers highlights a range of tariff and nontariff concerns, including sanitary and phytosanitary (SPS) and technical trade barriers. These and other potential issues for Congress are discussed below. Trade Provisions in the 2018 Farm Bill The 2018 farm bill reauthorized several export market development programs and export credit guarantee programs, administered by USDA's Foreign Agricultural Service. The 2018 farm bill included other trade and export promotion provisions aimed at developing overseas markets and addressing nontariff barriers. Export Market Development Programs The 2018 farm bill consolidated four existing USDA export promotion programs under a single Agricultural Trade Promotion and Facilitation program and created the Priority

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Already a HeinOnline Subscriber?

Log In

profiles profiles most