Biden Admin Racked Up $49 Billion Trade Deficit That Triggered 30% Surge In Farm Costs

U.S. Secretary of Agriculture Brooke Rollins said on Fox Business Wednesday that the Biden administration left a $49 billion deficit in the export market that led to the costs of agricultural inputs to rise by 30%.

During an appearance on “Kudlow,” Rollins said there’s a $49 billion deficit in farm products that deviates from the balanced trade figures seen four years prior under President Donald Trump. Rollins said the current surge in the farm costs were due to the failed policies of the Biden administration.

“When you bring the cost of inputs down, it went up 30% under Joe Biden. Listen, the export markets, we lost the entire market of exporting. We have a $49 billion deficit for our farm products and our farm producers,” Rollins said.

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Rollins then compared it to the deficit under the first term of President Trump.

“When we left Trump one, Larry, four years ago, it was a 0% deficit. So all of these things matter. It will take a little bit of time. You can’t do anything overnight. But I think the president’s vision he laid out last night, those of us who are on the team here again, and for the first time, realized what we’re doing, what’s at stake, we’re fighting every single day,” Rollins told Larry Kudlow.

Rollins also discussed the unrealistic expectations placed on the current administration to reverse economic trends within its first 30 days.

“You can’t turn an entire economy around in 30 days. You can’t bring the cost of goods down in 30 days. And, you know, it isn’t just that what we inherited, but you look at the cost of inputs,” Rollins said when Kudlow pointed out that people on the left are blaming Trump for the current status of the economy. “And I know Larry, you have been a super champion on energy and how we bring the cost of goods down through drill, baby drill and getting more energy independence, getting it back. But all of this matters.”

As of 2025, U.S. farm costs are facing various challenges and trends as farmers are grappling with high input costs amidst fluctuating commodity prices. To manage expenses, many are focusing on reducing equipment purchases and fertilizer usage, given tighter margins and the need for cost efficiency.

Fertilizer prices, after peaking in previous years, are now expected to stabilize unless global supply issues or geopolitical tensions arise. Costs for chemicals used in agriculture are also predicted to remain stable with energy expenses expected to see some fluctuations, particularly with an increase in natural gas prices, while diesel and gasoline might see slight decreases​.

In response to the shifting economic landscape, Republican Virginia Rep. John McGuire introduced his inaugural bill, which proposes to ease transportation expenses for the state’s agricultural and logging sectors by permitting heavier loads on interstate highways. The bill, dubbed the “Agriculture and Forestry Hauling Efficiency Act,” seeks to raise the weight limit for trucks transporting unprocessed agricultural and forestry products on Virginia’s interstate roads to 90,000 pounds, thus matching the state roads’ limits and aiming to enhance efficiency and safety.