Strategic initiatives boost agricultural sector globally
The Administration's strategic efforts have significantly advanced U.S. agricultural exports, reinforcing the sector's role in economic stability and job creation.
Approximately 20% of U.S. agricultural production is now exported, a testament to the sector's importance in global trade and domestic economic health.
Throughout this period, the Administration has achieved record export levels, with the three highest years of agricultural exports recorded consecutively from 2021 to 2023. Data anticipates 2024 exports will continue this upward trajectory.
Support mechanisms like the Market Access Program and the Foreign Market Development Program have played crucial roles, with over $850 million allocated in 2024 alone.
Additionally, USDA's efforts have facilitated $9.4 billion in loan guarantees for diversifying agricultural export markets and delivered extensive international food assistance, enhancing food security worldwide.
Trade missions have been instrumental, with 389 companies participating in USDA-led initiatives, culminating in significant projected sales.
Moreover, critical trade victories, such as the USMCA biotech corn dispute resolution and new market access in South Africa and Vietnam, have solidified the U.S.'s standing in the global agricultural marketplace.
Through these concerted efforts, the Administration continues to underscore its commitment to propelling the agricultural sector to new heights, leveraging trade policy and export promotion to ensure sustained economic growth and global competitiveness.