U.S. Agricultural Trade Challenges Amid Climate and Geopolitical Disruptions

Raghav Goyal, Sandro Steinbach, Yasin Yildirim and Xiting Zhuang

Choices: The Magazine of Food, Farm, and Resource Issues, 2024, vol. 39, issue 03

Abstract: U.S. agriculture is critical to global food security and one of world trade’s dependable staples. In 2022, the agricultural sector and related industries contributed 5.6% to the U.S. gross domestic product and employed 10.4% of the U.S. population. The sector’s strength depends not only on domestic factors—such as crop yields, demand, and agricultural policies—but also on its ability to access foreign markets. Agricultural exports have grown considerably over the last few decades, reaching almost $200 billion in 2022 (U.S. Department of Agriculture, 2024a). Recent disruptions in critical transportation lanes—including the Panama Canal, the Red Sea, and the Mississippi River—have highlighted the vulnerability of U.S. agriculture to climate disruptions and geopolitical events. These shipping routes facilitate the timely and cost-effective transportation of vast quantities of agricultural commodities—including major staples like corn, soybeans, and wheat—to international markets.

Keywords: Climate Change; International Relations/Trade; Supply Chain (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaeach:344749

DOI: 10.22004/ag.econ.344749

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