What did Donald Trump claim about the economy on 25 Jun 2026? "Biden took that surplus and turned it into a $50 billion…"
Donald Trump, President of the United States ·
Biden took that surplus and turned it into a $50 billion agricultural trade deficit.
The farm trade deficit under Biden peaked at $36.5 billion in 2024, not $50 billion, and it grew to $40.7 billion in 2025, Trump's first year back.
The largest U.S. agricultural trade deficit under Biden was $36.5 billion in calendar 2024 ($31.9 billion in fiscal 2024). The deficit was larger in 2025, Trump's own first year back, at $40.7 billion ($43.7 billion in fiscal 2025). It has never reached $50 billion (USDA Economic Research Service, Foreign Agricultural Trade of the United States).
Claim vs. the record · Economy
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The claim
- Date
- Where
- Remarks at a Rose Garden Club dinner with farmers, White House.
The record
Primary source (agency data)