Tariff and the auto industry
Re: Tariff and the agriculture economy
AG TRADE BETWEEN U.S. AND MEXICO
The U.S. exported $18 billion in ag products to Mexico in 2015 while importing $21 billion, resulting in a $3 billion trade deficit. The two countries largely ship entirely different products each way.
The $18 billion in ag goods sent from the U.S. to Mexico in 2015 was down $1.5 billion from a year earlier. Leading ag exports included: corn ($2.3 billion), soybeans ($1.4 billion), dairy products ($1.3 billion), pork and pork products ($1.3 billion), and beef and beef products ($1.1 billion).
The $21 billion in ag products sent from Mexico to the U.S. in 2015 included: fresh vegetables ($4.8 billion), other fresh fruit ($4.3 billion), wine and beer ($2.7 billion), snack foods ($1.7 billion), and processed fruit and vegetables ($1.4 billion).
Just this week, 130 agricultural trade associations and businesses sent a letter to the president again reiterating the importance of trade to the bottom lines of farmers and agribusinesses. The groups and business, calling themselves the U.S. Food and Agriculture Dialogue for Trade, wrote to Trump that they were focused on ways to modernize NAFTA "in ways that preserve and expand upon the gains achieved." The ag groups added that NAFTA has been "a windfall for U.S. farmers, ranchers and food processors."
The letter further noted that, outside a few key exceptions, "North American intraregional food and agricultural trade is now free of tariff and quota restrictions."