The Coalition to Promote U.S. Agricultural Exports applauds the introduction of the Supporting Market Access to Reinvigorate Trade Act of 2022.
The SMART Act would double funding for USDA’s Market Access Program and Foreign Market Development Program. Both are critical to expanding global market access for U.S.-produced agricultural exports. A recent economic study predicted that doubling funding for these programs would generate an additional $44.4 billion in American agricultural exports from 2024 to 2029.
“Reinvestment in export promotion programs is needed now,” says Robbie Minnich, Coalition Chair. “USDA is forecasting an agricultural trade deficit in 2023 for the first time in years because the growth in American farm exports is not keeping pace with imports, signaling a more competitive global landscape.”
Geopolitical conflict is making the future of trade more uncertain, so the coalition says the additional investment is an essential piece of policy to reinforce America’s competitive standing overseas.