China Tops Canada As Lead Buyer of U.S. Ag Goods

China Tops Canada As Lead Buyer of U.S. Ag Goods

Russell Nemetz
Russell Nemetz
Hi everybody it's time for your Land and Livestock Report here on the Ag Information Network of the West-I'm Russell Nemetz.

Tensions are rising when it comes to the future of trade. As leaders from Canada, Mexico and the United States are in the midst of round 5 of North American Free Trade Agreement (NAFTA) 2.0 negotiations, new numbers from U.S. Department of Agriculture (USDA) show China is now the top buyer of U.S. agricultural goods.

For the fiscal year 2017, China purchased $22 billion of agricultural products from the U.S, which is a large jump from the $19.2 billion bought in FY16. That also allowed China to secure the No. 1 spot.

The United States' NAFTA partners showed an increase in the value of goods purchased, coming in at No. 2 and 3. Shipments to Canada were valued at $20.4 billion, which is a slight increase from the $20.3 bought in 2016, but bumps Canada from the top buyer of goods. Mexico's shipments reached $18.6 billion, a six-percent gain from last year.

In total, USDA says exports reached the third-highest on record, reaching $140.5 billion, a jump of $10.9 billion.

That's your Land and Livestock Report-I'm Russell Nemetz.

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