Experts warn of falling US export advantage amid global competition
The United States, long regarded as a global agricultural leader, is facing a major shift as its farm trade balance moves deeper into deficit. According to a recent study by the University of Illinois Urbana-Champaign and Texas Tech University, US agricultural imports now surpass exports—a trend expected to worsen.
"For most of recent history, the U.S. was a net agricultural exporter. But in the last couple of years, that has reversed, and what used to be a persistent surplus has turned into a persistent and growing deficit, where we're importing much more than we export. Current projections estimate that the agricultural trade deficit will reach $49 billion by the end of 2025," said lead author William Ridley, associate professor in the Department of Agricultural and Consumer Economics, part of the College of Agricultural, Consumer and Environmental Sciences at U. of I.
While the US continues to be a top producer of crops like corn, soybeans, wheat, and cotton, exports are stagnating while imports—especially fruits, vegetables, and canola oil—continue to climb. The ongoing trade dispute with China remains a major factor behind this shift.
China’s retaliatory tariffs on key US exports such as soybeans, wheat, corn, and cotton have sharply reduced trade flows. Between 2017 and 2018 alone, soybean exports fell by 73%, wheat by 67%, and corn by 61%, amounting to a $14 billion overall loss.