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U.S. Farm Economy [Updated April 17, 2008]
"According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise to a record $92.3 billion in 2008, over 4% above the previous year's record ($88.7 billion) on the strength of higher commodity prices, which are being driven by the outlook for continued strong domestic and international demand and sharply lower stocks for major grains and oilseeds.1 Consequently, the outlook for the U.S. farm economy as a whole is for another year of record profitability as projected record agricultural cash receipts of $313.2 billion (up $28 billion or 10%) more than offset record high production expenses of $279.2 billion. Government payments are projected up over 11% in 2008 at $13.7 billion. An increase in ad hoc and emergency program payments are expected to more than offset sharp declines in commodity program payments due to the projected rise in crop prices which, in turn, are expected to reduce price-triggered marketing loan benefits and counter-cyclical payments. Total farm asset value of $2,514 billion and total farm debt of $228 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 9.1% is down sharply from last year's value of 9.9% and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2008-04-17
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U.S. Farm Economy [Updated September 4, 2007]
"According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise nearly 48% in 2007 on the strength of higher commodity prices, which, in turn, are being driven largely by the rapidly growing demand for corn as a feedstock in ethanol production.1 Net farm income is forecast at $87.1 billion, up from $59 billion in 2006, as projected record agricultural cash receipts of $276.4 billion (up $37.1 billion or 16%) more than offset record high production expenses (up $249.9 billion or 7%) and a decline of over $2 billion in government payments. Crop and livestock receipts are both projected to reach record levels in 2007 of $136.2 billion and $140.2 billion, respectively. Higher prices are behind the surge in both crop and livestock receipts. The projected rise in crop prices is expected to reduce price-triggered marketing loan benefits and counter-cyclical payments, leading to lower total government payments. Total farm asset value of $2,223 billion and total farm debt of $214 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 9.6% is down sharply from last year's value of 10.5% and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2007-09-04
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U.S. Farm Economy [Updated September 2, 2008]
"According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise to a record $95.7 billion in 2008, over 10% above the previous year's record ($86.8 billion) on the strength of higher commodity prices, which are being driven by the outlook for continued strong domestic and international demand and sharply lower stocks for major grains and oilseeds. Consequently, the outlook for the U.S. farm economy as a whole is for another year of record profitability as projected record agricultural cash receipts of $335.8 billion (up $51 billion or 18%) more than offset a $40.4 billion jump in production expenses to a record high of $294.8 billion. Government payments are projected up slightly in 2008 at $13.2 billion. An increase in ad hoc and emergency program payments are expected to more than offset declines in commodity program payments due to the projected rise in crop prices which, in turn, are expected to reduce price-triggered marketing loan benefits and counter-cyclical payments. Total farm asset value of $2,359 billion and total farm debt of $212 billion are both projected at record levels in 2008. However, the debt-to-asset ratio of 9.0% is down sharply from last year's value of 9.6% and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2008-09-02
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U.S. Farm Economy [Updated May 31, 2007]
"According to USDA's [United States Department of Agriculture] Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise 10% in 2007 on the strength of higher commodity prices, which, in turn, are being driven largely by the rapidly growing demand for corn as a feedstock in ethanol production. Net farm income is forecast at $66.6 billion, up from $60.6 billion in 2006, as projected record agricultural cash receipts of $258.7 billion (up $16 billion) more than offset higher production expenses and a decline of nearly $4 billion in government payments. Crop and livestock receipts are both projected to reach record levels in 2007 of $133.5 billion and $125.2 billion, respectively. While higher prices are behind the surge in crop receipts, mostly steady prices and larger output account for the livestock sector's increased value. The projected rise in crop prices is expected to reduce price-triggered marketing loan benefits and counter-cyclical payments, leading to lower total government payments. In addition, the rise in cash receipts is expected to be partially offset by record high production expenses of $251.3 billion (up nearly 6%). Total farm asset value of $1,994 billion and total farm debt of $235 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 11.8% equals last year's value and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2007-05-31
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U.S. Farm Economy [Updated February 21, 2007]
"According to USDA's [United States Department of Agriculture] Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise 10% in 2007 on the strength of higher commodity prices, which, in turn, are being driven largely by the rapidly growing demand for corn as a feedstock in ethanol production.1 Net farm income is forecast at $66.6 billion, up from $60.6 billion in 2006, as projected record agricultural cash receipts of $258.7 billion (up $16 billion) more than offset higher production expenses and a decline of nearly $4 billion in government payments. Crop and livestock receipts are both projected to reach record levels in 2007 of $133.5 billion and $125.2 billion, respectively. While higher prices are behind the surge in crop receipts, mostly steady prices and larger output account for the livestock sector's increased value. The projected rise in crop prices is expected to reduce price-triggered marketing loan benefits and counter-cyclical payments, leading to lower total government payments. In addition, the rise in cash receipts is expected to be partially offset by record high production expenses of $251.3 billion (up nearly 6%). Total farm asset value of $1,994 billion and total farm debt of $235 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 11.8% equals last year's value and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2007-02-21
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U.S. Farm Economy [Updated September 6, 2006]
"According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to experience a decline in 2006 following three years of robust receipts and income. Net farm income is forecast to decline by $19.4 billion (or 26%) to $54.4 billion in 2006 due to declines in cash receipts (down $3.6 billion) and government payments (down $6.1 billion) combined with a sharp rise in production expenses (up $9.5 billion). Crop receipts are projected to reach a record high in 2006, despite a smaller crop outlook, on the strength of higher prices. However, gains in crop receipts are expected to be more than offset by sharply lower livestock receipts due to weaker hog, broiler, and dairy prices. The projected rises in crop prices are expected to reduce price-triggered marketing loan benefits, leading to lower total government payments. Finally, energy, fertilizer, and pesticide costs, as well as interest charges, are expected to rise significantly in 2006, cutting into net farm returns. Farm asset value of $1,919 billion and total farm debt of $217 billion are both projected at record levels in 2006. However, the debt-to-asset ratio of 11.3% represents a fourth consecutive year of decline (and the lowest level since 1960), suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2006-09-06
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Energy Provisions in the 2014 Farm Bill (P.L. 113-79) [March 12, 2014]
"Agriculture-based renewable energy can take several forms, including biofuels such as cornbased ethanol or soy-based biodiesel, wind-driven turbines located on farmland or in rural areas, anaerobic digesters that convert animal waste into methane and electric power, or biomass harvested for burning as a processing fuel or to generate heat as part of an industrial activity. […] By FY2007 total direct federal biofuels subsidies had grown to over $4 billion per year. By FY2011, federal biofuels subsidies had reached approximately $7.7 billion, of which an estimated $5.7 billion was attributable to the Volumetric Ethanol Excise Tax Credit (VEETC) of $0.45/gallon. However, the VEETC expired at the end of FY2011 and federal subsidies fell to an estimated $1.3 billion in FY2012--consisting primarily of biodiesel producer tax credits of approximately $1 billion. The remaining biofuels tax credits--for biodiesel and cellulosic biofuel, and including a small producers tax credit--expired at the end of FY2013. In their absence, the funding afforded under the provisions of Title IX of the 2014 farm bill represents the principal source of federal support for biofuels production and use in the United States. This report focuses on those policies contained in the 2014 farm bill that support agriculturebased renewable energy, especially biofuels. The introductory sections of this report briefly describe how USDA bioenergy policies evolved and how they fit into the larger context of U.S. biofuels policy. Then, each of the bioenergy provisions of the 2014 farm bill are defined in terms of their function, goals, administration, funding, and implementation status."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2014-03-12
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Farm-to-Food Price Dynamics [September 27, 2013]
"Heightened commodity price volatility since 2008-driven by major market-shifting events including increased demand for corn under strong federal biofuels incentives, a prolonged surge in China's soybean import demand, and the severe U.S. drought of 2012-has generated many questions about linkages between farm commodity prices and U.S. food price inflation from Members of Congress and their constituents. This report responds to those concerns by addressing the linkage between farm and retail food prices. […] Price is the primary mechanism that links raw farm commodities through the various levels of the market system to the retail food product. The nature of price transmission between farm and retail levels depends, in general, on the size of the farm share of the retail price and the degree of market competition at each stage of the marketing chain. […] Comparisons of price data for major food groups confirm that farm-to-retail price transmission behaves slowly, with substantial lags and asymmetry. For example, the rise in farm prices that occurred between 2006 and mid-2008 was substantially larger and occurred about six months earlier than the rise in corresponding retail food product prices. Similarly, the subsequent fall in farm prices from their 2008 peaks preceded the downturn in corresponding retail food prices by several months."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2013-09-27
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U.S. Agricultural Policy Response to WTO Cotton Decision [July 11, 2005]
"On March 3, 2005, a World Trade Organization (WTO) Dispute Appeals Panel ruled against the United States in a dispute settlement case (DS267) brought by Brazil against certain aspects of the U.S. cotton program.1 The United States was given a July 1, 2005, deadline to bring certain cotton programs into compliance with WTO rules. On July 5, 2005, U.S. Secretary of Agriculture Mike Johanns announced that the Administration was sending proposed statutory changes to Congress to comply with the WTO case including elimination of the Step 2 cotton program, removal of a 1% cap on fees charged under the GSM-102 export credit guarantee program, and termination of the GSM-103 export credit guarantee program. In light of USDA's proposed changes, and with the expectation that they will be fully implemented in an expeditious manner, Brazil has temporarily suspended its pursuit of WTO-sanctioned retaliatory trade measures against U.S. agricultural products. The U.S. National Cotton Council (NCC) has announced its opposition to the removal of the Step 2 cotton program. Modifications to or the elimination of the programs as suggested by USDA, ultimately will be decided by Congress. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2005-07-11
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U.S. Agricultural Policy Response to WTO Cotton Decision [Updated March 31, 2006]
"In March 2005, a World Trade Organization (WTO) appellate panel ruled against the United States in a dispute settlement case (DS267) brought by Brazil against certain aspects of the U.S. cotton program. To comply with the 'prohibited subsidy' portion of the WTO ruling, U.S. Secretary of Agriculture Mike Johanns announced (July 5, 2005) that the Administration was sending proposed statutory changes to Congress including elimination of the Step 2 cotton program, removal of a 1% cap on fees charged under the GSM-102 export credit guarantee program, and termination of the GSM-103 export credit guarantee program. Congress complied with a portion of this request by including a provision in the Deficit Reduction Act of 2005 (P.L. 109-171; signed into law on Feb. 8, 2006) that calls for the elimination of Step 2 on Aug. 1, 2006. In light of this provision, and with the expectation that the additional proposed changes will be fully implemented in an expeditious manner, Brazil has temporarily suspended its pursuit of WTO-sanctioned retaliatory trade measures against U.S. agricultural products. Additional permanent modifications to U.S. farm programs may still be needed to fully comply with the 'actionable subsidies' portion of the WTO ruling. Such changes ultimately would be decided by Congress. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2006-03-31
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U.S. Agricultural Policy Response to WTO Cotton Decision [Updated January 18, 2006]
"In March 2005, a World Trade Organization (WTO) appellate panel ruled against the United States in a dispute settlement case (DS267) brought by Brazil against certain aspects of the U.S. cotton program. To comply with the 'prohibited subsidy' portion of the WTO ruling, U.S. Secretary of Agriculture Mike Johanns announced (July 5, 2005) that the Administration was sending proposed statutory changes to Congress including elimination of the Step 2 cotton program, removal of a 1% cap on fees charged under the GSM-102 export credit guarantee program, and termination of the GSM-103 export credit guarantee program. In light of USDA's proposed changes, and with the expectation that they will be fully implemented in an expeditious manner, Brazil has temporarily suspended its pursuit of WTO-sanctioned retaliatory trade measures against U.S. agricultural products. The U.S. National Cotton Council (NCC) has announced its opposition to the removal of the Step 2 cotton program whose elimination is contained in the pending budget reconciliation bill, S. 1932, the Deficit Reduction Act of 2005. Additional permanent modifications to U.S. farm programs may still be needed to fully comply with the 'actionable subsidies' portion of the WTO ruling. Such changes ultimately would be decided by Congress. This report will be updated as events warrant."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2006-01-18
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Farm-to-Food Price Dynamics [June 19, 2015]
"Heightened commodity price volatility since 2008--driven by major market-shifting events, including increased demand for corn under strong federal biofuels incentives, a prolonged surge in China's soybean import demand, and the severe U.S. drought of 2012--has generated many questions about linkages between farm commodity prices and U.S. food price inflation from Members of Congress and their constituents. This report responds to those concerns by addressing the linkage between farm and retail food prices […] Price is the primary mechanism that links raw farm commodities through the various levels of the market system to the retail food product. The nature of price transmission between farm and retail levels depends, in general, on the size of the farm share of the retail price and the degree of market competition at each stage of the marketing chain. For example, the farm share represents nearly 58% of the retail value of a dozen eggs. Similarly, it ranges from 30% to 50% for most fresh meat retail product prices. In contrast, the farm share is only about 8% of cereal and bakery product prices. […] Economic analysis of farm-to-retail price transmission leads to three generalizations: first, causality usually runs from changes in farm prices to changes in retail prices; second, time lags in retail price response to farm price changes are generally months in length, even for perishables like milk, meat, and fresh fruits and vegetables; and third, retail prices appear to respond asymmetrically, with adjustments to increases in farm prices occurring faster and with greater pass-through than adjustments to decreases in farm prices. This last generalization is often referred to as 'sticky' retail food prices--that is , retail prices follow commodity prices upward rapidly, but fall back only slowly and partially when commodity prices recede."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2015-06-19
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COVID-19, U.S. Agriculture, and USDA's Coronavirus Food Assistance Program (CFAP) [May 8, 2020]
From the Introduction: "This report describes some of the actions that USDA has taken in response to the COVID-19 [coronavirus disease 2019] emergency, including CFAP [Coronavirus Food Assistance Program]--in particular, how CFAP is funded and how USDA intends to use the funds. The description of USDA COVID-19 response efforts is preceded by: first, a brief review of food supply chain issues where the U.S. agricultural sector has experienced economic harm or is potentially vulnerable to the effects of the COVID-19 pandemic; and second, a review of current assessments of the economic harm to U.S. farm income, as well as to individual commodity sectors, resulting from COVID-19. The report then describes the emergency funds that have been allocated to address the U.S. agricultural sector, and how USDA plans on using those funds, including a detailed description of CFAP producer payments, and USDA's food purchase and distribution efforts. [...] Finally, several issues related to CFAP and the U.S. agricultural sector in a post-COVID economy that could be of potential interest to Congress are presented at the end of this report."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-; Monke, Jim
2020-05-08
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USDA's Coronavirus Food Assistance Program (CFAP) Direct Payments [Updated June 16, 2020]
From the Introduction: "On April 17, 2020, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would initiate the Coronavirus Food Assistance Program (CFAP), valued at $19 billion, to provide immediate financial relief to farmers, ranchers, and consumers in response to the COVID-19 [coronavirus disease 2019] national emergency. According to Secretary Perdue, CFAP consists of two distinct initiatives: a $16 billion direct payment program for agricultural producers that have been impacted by the decline in commodity prices and the disruption in food supply chains related to COVID-19, and a $3 billion food purchase and distribution program for affected consumers referred to as the Farmers to Families Food Box Program. [...] This report describes the details of the larger of these two CFAP initiatives--the direct payment program. It describes how this program is funded and administered, including specific details on the calculation and implementation of payments."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2020-06-16
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USDA's Coronavirus Food Assistance Program (CFAP) Direct Payments [June 4, 2020]
From the Introduction: "On April 17, 2020, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would initiate the Coronavirus Food Assistance Program (CFAP), valued at $19 billion, to provide immediate financial relief to farmers, ranchers, and consumers in response to the COVID-19 [coronavirus disease 2019] national emergency. [...] According to Secretary Perdue, CFAP consists of two distinct initiatives: a $16 billion direct payment program for agricultural producers that have been impacted by the decline in commodity prices and the disruption in food supply chains related to COVID-19, and a $3 billion food purchase and distribution program for affected consumers referred to as the Farmers to Families Food Box Program. [...] This report describes the details of the larger of these two CFAP initiatives--the direct payment program. It describes how this program is funded and administered, including specific details on the calculation and implementation of payments. The report begins with a brief overview of the CFAP direct payment program, including its policy objectives, funding sources, and implementing agencies. The next section describes the details of the CFAP direct payment program, including eligibility requirements for both producers and commodities, application procedures, payment calculations, and the program's timeline. The report ends with a brief discussion on issues of potential interest to Congress."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2020-06-04
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U.S. Farm Support: Outlook for Compliance with WTO Commitments, 2018 to 2020 [October 21, 2020]
From the Introduction: "The long-term objective of the World Trade Organization's (WTO's) Agreement on Agriculture (AoA) is to establish a fair and market-oriented agricultural trading system. The principal approaches for achieving this goal are, first, to achieve specific binding commitments by all WTO members in each of the three pillars of agricultural trade policy reform--market access, domestic support, and export subsidies--and second, to provide for substantial progressive reductions in domestic agricultural support and border protection from foreign products. As a signatory member of the WTO agreements, the United States has committed to abide by WTO rules and disciplines, including those that govern domestic farm policy as defined in the AoA. [...] This report examines whether the United States might exceed its WTO spending limit during any of the three years from 2018 through 2020. As background, this report briefly reviews the WTO rules and disciplines on farm program spending. Then, it reviews the types of U.S. farm programs that are subject to WTO disciplines--in particular, it focuses on programs that make direct payments to agricultural producers. The review of farm programs includes a discussion of how U.S. compliance may be affected by the large ad hoc direct payment programs initiated by the Secretary of Agriculture during 2018 through 2020, and other spending on farm support authorized by Congress in response to the COVID-19 [coronavirus disease 2019] pandemic."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2020-10-21
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USDA's Coronavirus Food Assistance Program: Round Two (CFAP-2) [December 21, 2020]
From the Introduction: "On April 17, 2020, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would initiate what would be the first round of direct payments under the Coronavirus Food Assistance Program (CFAP-1), valued at $16 billion, to provide immediate financial relief to farmers, ranchers, and consumers affected by the Coronavirus Disease 2019 (COVID-19) pandemic. On September 18, 2020, USDA announced a second round of CFAP direct payments (CFAP-2), valued at up to an additional $14 billion. [...] This report describes the details of CFAP-2 direct payments to the U.S. agricultural sector in response to the COVID-19 pandemic. It describes the program's funding source and authority; how the program is administered, including specific details on the calculation and implementation of payments; and the status of program outlays by commodity and by state."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2020-12-21
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USDA's Coronavirus Food Assistance Program: Round One (CFAP-1) [Updated November 19, 2020]
From the Document: "On April 17, 2020, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would initiate what would be the first round of the Coronavirus Food Assistance Program (CFAP-1), valued at $19 billion, to provide immediate financial relief to farmers, ranchers, and consumers in response to the COVID-19 [coronavirus disease 2019] national emergency. [...] This report describes the details of the direct payment component of the CFAP-1 initiative. It describes how this program is funded and administered, including specific details on the calculation and implementation of payments. It includes the program changes made by USDA through a series eight subsequent amendments and corrections to CFAP-1 that expanded program eligibility to additional commodities, updated payment rates, and added clarity to program definitions."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2020-11-19
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Obama Administration's Feed the Future Initiative [Updated July 25, 2016]
From the Introduction: "Established in 2010, 'Feed the Future' (FTF) is a major Obama Administration foreign assistance initiative designed to alleviate global poverty and improve health and food security. [...] TF is a new federal investment paradigm targeting sustainable reductions in international hunger, malnutrition, and food insecurity. FTF seeks to foster transparency and accountability and track and assess program implementation progress through the use of publicly released metrics to justify U.S. investments in each recipient country and each development program, indicators to monitor and evaluate progress, and annual reports to Congress. The U.S. Agency for International Development (USAID) selects the main FTF recipient countries--known as 'focus countries' under the initiative--based on country ownership potential, need, and opportunity for reducing food insecurity. [...] This report discusses these and other features of FTF. Key issues addressed include the origin, intent, and government-wide inter-agency development approach of FTF; FTF program implementation, including monitoring and evaluation issues; and funding. This report also raises possible oversight issues for Congress relating to FTF implementation. Possible matters of interest to Members include the limited availability of USAID reporting on program impact results by country, and long-term institutional prospects for FTF, given its status as an ad hoc Obama Administration presidential initiative. Congress is presently evaluating the overall merits of FTF and whether to permanently authorize the initiative."
Library of Congress. Congressional Research Service
Lawson, Marian Leonardo; Schnepf, Randall Dean, 1954-; Cook, Nicolas
2016-07-25
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Agriculture in the WTO: Rules and Limits on U.S. Domestic Support [September 6, 2018]
"Trade plays a critical role in the U.S. agricultural sector. The U.S. Department of Agriculture (USDA) estimates that exports account for about 20% of total U.S. agricultural production. Furthermore, given the substantial volume of its agricultural exports, the United States plays a significant role in many international agricultural markets. As a result, U.S. farm policy is often subject to intense scrutiny both for compliance with current World Trade Organization (WTO) rules and for its potential to diminish the breadth or impede the success of future multilateral negotiations.In part, this is because a farm bill locks in U.S. policy behavior for an extended period of time during which the United States would be unable to accept any new restrictions on its domestic support programs."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2018-09-06
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Major Agricultural Trade Issues in the 116th Congress [May 20, 2019]
From the Summary: "Sales of U.S. agricultural products to foreign markets absorb about one-fifth of U.S. agricultural production, thus contributing significantly to the health of the farm economy. Farm product exports, which totaled $143 billion in FY2018 [...], make up about 9% of total U.S. exports and contribute positively to the U.S. balance of trade. The economic benefits of agricultural exports also extend across rural communities, while overseas farm sales help to buoy a wide array of industries linked to agriculture, including transportation, processing, and farm input suppliers."
Library of Congress. Congressional Research Service
Regmi, Anita; Angadjivand, Sahar; Cowan, Tadlock . . .
2019-05-20
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Farm Policy: USDA's 2019 Trade Aid Package [August 12, 2019]
From the Document: "Under the 2019 trade aid package, USDA will use its authority under the Commodity Credit Corporation (CCC) Charter Act to fund three separate programs to assist agricultural producers in 2019 while the Administration works to resolve the ongoing trade disputes with certain foreign nations, most notably China. The three programs are similar to the 2018 trade aid package but are funded at different levels: 1. The Market Facilitation Program (MFP) for 2019, administered by USDA's Farm Service Agency, is to provide up to $14.5 billion in direct payments to producers of affected commodities (compared with up to $10 billion in 2018). 2. A Food Purchase and Distribution Program, administered through USDA's Agricultural Marketing Service, will use $1.4 billion (compared with $1.2 billion in 2018) to purchase surplus commodities affected by trade retaliation such as fruits, vegetables, some processed foods, beef, pork, lamb, poultry, and milk for distribution by USDA's Food and Nutrition Service to food banks, schools, and other outlets serving low-income individuals. 3. The Agricultural Trade Promotion Program, administered by USDA's Foreign Agriculture Service, will be provided $100 million ($200 million in 2018) to assist in developing new export markets on behalf of U.S. agricultural producers."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2019-08-12
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Agriculture in the WTO: Rules and Limits on U.S. Domestic Support [Updated June 4, 2019]
From the Introduction: "Trade plays a critical role in the U.S. agricultural sector. The U.S. Department of Agriculture (USDA) estimates that exports account for about 20% of total U.S. agricultural production. Furthermore, given the substantial volume of its agricultural exports, the United States plays a significant role in many international agricultural markets. As a result, U.S. farm policy is often subject to intense scrutiny both for compliance with current World Trade Organization (WTO) rules and for its potential to diminish the breadth or impede the success of future multilateral negotiations. In part, this is because a farm bill locks in U.S. policy behavior for an extended period of time during which the United States would be unable to accept any new restrictions on its domestic support programs."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2019-06-04
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Farm Policy: USDA's 2018 Trade Aid Package [Updated June 14, 2019]
From the Document: "In early 2018, the Trump Administration--citing concerns over national security and unfair trade practices--imposed increased tariffs on certain imported products in general and on U.S. imports from China in particular. Several of the affected foreign trading partners (including China) responded to the U.S. tariffs with their own retaliatory tariffs targeting various U.S. products, especially agricultural commodities. On July 24, 2018, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would be taking several temporary actions to assist farmers in response to trade damage from what the Administration has characterized as 'unjustified retaliation.'"
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-; Monke, Jim; Stubbs, Megan . . .
2019-06-14
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Farm Policy: USDA's 2019 Trade Aid Package [Updated September 4, 2019]
From the Document: "Under the 2019 trade aid package, USDA will use its authority under the Commodity Credit Corporation (CCC) Charter Act to fund three separate programs to assist agricultural producers in 2019 while the Administration works to resolve the ongoing trade disputes with certain foreign nations, most notably China. The three programs are similar to the 2018 trade aid package but are funded at different levels: 1. The Market Facilitation Program (MFP) for 2019, administered by USDA's Farm Service Agency, is to provide up to $14.5 billion in direct payments to producers of affected commodities (compared with up to $10 billion in 2018). 2. A Food Purchase and Distribution Program, administered through USDA's Agricultural Marketing Service, will use $1.4 billion (compared with $1.2 billion in 2018) to purchase surplus commodities affected by trade retaliation, such as fruits, vegetables, some processed foods, beef, pork, lamb, poultry, and milk, for distribution by USDA's Food and Nutrition Service to food banks, schools, and other outlets serving low-income individuals. 3. The Agricultural Trade Promotion Program, administered by USDA's Foreign Agriculture Service, will be provided $100 million ($200 million in 2018) to assist in developing new export markets on behalf of U.S. agricultural producers."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2019-09-04
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U.S. Farm Support: Compliance with WTO Commitments [October 4, 2019]
From the Document: "As a member of the World Trade Organization (WTO) agreements, the United States has committed to abide by WTO rules and disciplines, including those that govern domestic farm policy as spelled out in the Agreement on Agriculture (AoA). Since establishment of the WTO on January 1, 1995, the United States has complied with its WTO spending limits on market-distorting types of farm program outlays (referred to as amber box spending). However, the addition of large, new trade assistance payments to producers in 2018 and 2019, on top of existing farm program support, has raised concerns by some U.S. trading partners, as well as market watchers and policymakers, that U.S. domestic farm subsidy outlays might exceed the annual spending limit of $19.1 billion agreed to as part of U.S. commitments to WTO member countries. CRS [Congressional Research Service] analysis indicates that the United States probably did not violate its WTO spending limit in 2018 but could potentially exceed it in 2019."
Library of Congress. Congressional Research Service
Schnepf, Randall Dean, 1954-
2019-10-04
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Foreign Trade Remedy Investigations of U.S. Agricultural Products [March 11, 2020]
From the Document: "Foreign countries appear to be making greater use of punitive measures affecting U.S. agricultural exports. These measures, corresponding to duties the United States has long imposed on imports found to be traded unfairly and injuring U.S. industries, have the potential to reduce the competitiveness of U.S. agricultural exports in some foreign markets. Recent changes in U.S. agricultural policy, including over $23 billion in 'trade aid' payments in 2018 and 2019 to farmers affected by higher Chinese tariffs on certain U.S. products, may increase the likelihood of foreign measures that adversely affect U.S. agricultural trade. The imposition of anti-dumping and countervailing duties is governed by the rules of the World Trade Organization (WTO) and of WTO's 1995 Agreement on Agriculture (AoA). Under the AoA, member countries agreed to reform their domestic agricultural support policies, increase access to imports, and reduce export subsidies. The AoA spells out the rules to determine whether policies are potentially trade distorting. If a trading partner believes that imported agricultural products are being sold below cost ('dumped') or benefit from unfair subsidies, it may impose anti-dumping (AD) or countervailing duties (CVD) on those imports to eliminate the unfair price advantage."
Library of Congress. Congressional Research Service
Regmi, Anita; Hart, Nina M.; Schnepf, Randall Dean, 1954-
2020-03-11
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Climate Change Adaptation: U.S. Department of Agriculture [July 17, 2020]
From the Introduction and Background: "Congress has debated the significance of global climate change and what federal policies, if any, should be adopted to address risks and effects associated with climate change. Federal policies may focus on climate change 'mitigation'--to prevent or slow the progress of climate change--or 'adaptation'--to avoid the consequences or capture the benefits of climate change (see text box). Policies focused on adaptation can reduce risks associated with climate change at federal agencies (including risks to infrastructure, operations, and mission delivery), including at the U.S. Department of Agriculture (USDA). Such policies may affect costs to the department or the sectors it serves. Given that agriculture and forestry are already experiencing the impacts of climate change, adaptation policies are particularly important for these sectors."
Library of Congress. Congressional Research Service
Hoover, Katie; Schnepf, Randall Dean, 1954-; Stubbs, Megan . . .
2020-07-17
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Reforming the WTO Agreement on Agriculture [July 20, 2020]
From the Introduction: "As a member of the World Trade Organization (WTO), the United States has committed to abide by its rules and disciplines, including those under the Agreement on Agriculture (AoA). The AoA, which took effect when the WTO was established on January 1, 1995, brought agricultural trade, for the first time, under a set of international rules and disciplines analogous to those that have long applied to trade in other goods. [...] The COVID-19 [coronavirus disease 2019] outbreak has highlighted various weaknesses in global food supply chains and emphasized concerns related to agricultural issues not addressed in the AoA, such as with regard to farm labor and the environment. These new issues and the postponement of MC12 [WTO's 12th Ministerial Conference] could represent a window of opportunity for Congress to consider how the United States could shape the negotiations over trade in agricultural products at MC12 and beyond."
Library of Congress. Congressional Research Service
Regmi, Anita; Hart, Nina M.; Schnepf, Randall Dean, 1954-
2020-07-20
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Federal Assistance to Troubled Industries: Selected Examples [March 19, 2020]
From the Introduction: "Serious disruptions for certain industries caused by the COVID-19 (coronavirus) pandemic have led to calls for federal government assistance to affected industries. Although out of the ordinary, this would not be the first occasion on which the federal government has provided aid to troubled or financially distressed industries. To help inform congressional debate, this report examines selected past instances in which the government has aided troubled industries, providing information about the way in which such assistance was structured, the role of Congress, and the eventual cost."
Library of Congress. Congressional Research Service
Webel, Baird; Labonte, Marc; Canis, Bill . . .
2020-03-19
