Tuesday, June 18, 2024

S.C. farm exports challenged by strengthening dollar, Clemson experts say

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CLEMSON, S.C. — Already feeling the pressure of drought, last year’s historic flood and low commodity prices, South Carolina’s number one industry could be pinched by an uptick in the value of the U.S. dollar, Clemson University agricultural economists say.

The value of the U.S. dollar against other currencies hit a 13-year high in mid-November, making U.S. goods more expensive abroad. Changes to federal trade policies and tariffs — particularly with China, a top importer of U.S. agricultural products — could hinder U.S. agricultural exports, as well, said Clemson University Extension farm business. . .

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