The European Union is the fifth-largest customer for U.S. farm exports but it is “impossible for our farmers and workers and companies to do business in Europe,” said President Trump on social media on Tuesday. The USDA’s quarterly Outlook for U.S. Agricultural Trade says the 28-nation EU bought $11.6 billion in U.S. food and ag products in fiscal 2017 and estimates it will leapfrog over Japan to become the No 4 customer in the fiscal year that ends on Sept 30.
However, the EU does enjoy an ag trade surplus with the United States, said the USDA report. It shipped $21.4 billion in food and ag goods to U.S. buyers in 2017, and sales are forecast to rise to $22.4 billion this year, keeping the EU in third place among importers. Mexico and Canada, in that order, are the top two. Overall, the United States routinely runs a trade surplus with the world.
“The European Union makes it impossible for our farmers and workers and companies to do business in Europe (U.S. has a $151 Billion trade deficit), and then they want us to happily defend them through NATO, and nicely pay for it. Just doesn’t work!” tweeted Trump while on a European trip.