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While the United States had a $16 billion agricultural trade surplus with the rest of the world in 2015, it ran a record $12 billion trade deficit in farm and food products with the European Union.
In recent years, India’s exports have demonstrated phenomenal growth – especially to developing countries, which now account for nearly 80 percent of Indian exports.
The ability of U.S. agricultural and food exporters to penetrate the growing EU market is constrained by tariff and non-tariff trade barriers and increased global competition.