Voracious U.S. demand means biggest food and ag trade deficit ever
Americans are consuming ever-larger amounts of imported fruits, vegetables, wine, alcohol, coffee, and beef, an appetite that will drive the food and ag trade deficit to a record $45.5 billion this fiscal year, estimated the Agriculture Department on Tuesday. Imports would be a sizzling $9.3 billion larger than in just-ended fiscal 2024, while food and ag exports decline for the third year in a row due to lower commodity prices.