WASHINGTON (February 7, 2017) – The U.S. Commerce Department announced today that the U.S. trade deficit grew to $502 billion in 2016, marking its highest level in four years. Pointing to the need to reset the nation’s trade agenda and address the massive trade deficit, National Farmers Union (NFU) President Roger Johnson released the following statement in response:
“Yet again, our nation’s trade deficit soared to more than half a trillion dollars, representing a direct 2.7 percent drag on our economy in 2016. Clearly, the deeply flawed trade agenda that our trade negotiators have continued to employ is failing family farmers, ranchers, rural communities, and the overall U.S. economy.
“NFU urges the Trump Administration to reset the nation’s trade agenda in a manner that addresses the massive trade deficit, expands the agricultural trade surplus and protects U.S. sovereignty, while maintaining positive relationships with our trading partners.”
An audio file of Roger Johnson’s statement can be found at nfu.org/audio.
National Farmers Union has been working since 1902 to protect and enhance the economic well-being and quality of life for family farmers, ranchers and rural communities through advocating grassroots-driven policy positions adopted by its membership.