The US ice cream industry experienced a significant trade balance shift from a surplus of $40 million in 2020 to a deficit of $40.6 million in 2022. This change was attributed to increased imports, particularly from countries like Japan and the EU, while exports have largely remained unchanged. Experts caution that imports constitute a minor part of all consumed ice cream in the US, and disputes over product classification, including the inclusion of edible ice, affect trade data interpretation. Historical data indicates the US held a trade surplus from 1995 to 2020.
The Trump administration highlighted a shift in the US ice cream trade balance, pointing to a deficit of $40.6 million under Biden compared to a surplus in 2020.
Industry experts noted that despite the increased imports, US ice cream imports represent only a small fraction of total consumption, and exports have remained steady.
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