USDA predicts fewer agriculture exports
Agriculture is one of the few areas of the American economy that sells more overseas than it buys. However, because of the trade war with China, the surplus is set to shrink.
A USDA forecast says the world's biggest agriculture exporter will see eight percent fewer exports than last year, at $18 billion in surplus. Right now, the U.S. is expected to import a $126.5 billion in agriculture products and exports $144.5 billion.
China was the largest buyer of U.S. farm products last year but are projected to be third this year behind Canada and Mexico. The forecast says China will then fall to fifth in 2019 behind the European Union and Japan when exports are predicted to drop another 37 percent.
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