ABSTRACT

U.S. Agricultural Trade: Trends, Composition, Direction, and Policy [Updated August 11, 2006]   [open pdf - 224KB]

"U.S. agricultural exports for FY2006 are forecast by the U.S. Department of Agriculture at $67 billion. Agricultural imports are expected to reach $65 billion. The trade surplus, projected to be $2 billion, has declined by almost $12 billion since FY2001. Exports of bulk commodities (e.g., soybeans, wheat, and feed grains) remain significant, but exports of high-value products (HVPs) (e.g., meats, fruits, and vegetables) are increasing. HVPs accounted for 62% of total U.S. agricultural exports in FY2005. [...] Both the EU and the United States subsidize their agricultural sectors, but overall the EU out subsidizes the United States. Recent reforms of the EU's Common Agricultural policy shift substantial spending into direct income support decoupled from production and into rural development. Canada supports some sectors (e.g., dairy and poultry) more than others. Australia provides less support to its agriculture. Single desk sellers with monopoly powers operate wheat markets and markets for some other commodities in Canada and Australia. Export subsidies are more important in the EU than in the United States; border measures (tariffs) are more important in Canada than in either the United States or the EU. Australia operates a mix of trade measures. The United States is the dominant supplier of foreign food aid, followed by the EU, Canada, and Australia. The United States has the most diverse food aid programs; others limit food aid to development assistance and emergencies."

Report Number:
CRS Report for Congress, 98-253
Author:
Publisher:
Date:
2006-08-11
Series:
Copyright:
Public Domain
Retrieved From:
U.S. Dept. of State, Foreign Press Centers: http://fpc.state.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations