The Trump administration announced a “deal” allowing imports of up to 300,000 metric tons of ground beef to enter the U.S. market with relaxed tariffs. The announcement came on Aug. 21, and states that, “... foreign beef exporters will provide a 25% discount on beef exports ‘to be passed along to American consumers’ in exchange for tariff relief” for 90 days, reports Emily Chang and Benjamin Siegel for ABC News.
Ranchers and several Republican lawmakers from farm states oppose the plan. Chang and Siegel report Republican Montana Sen. Tim Sheehy said “... this action will make it more difficult for American ranchers to rebuild our herd and bring prices down for the American people.” CEO of the National Cattleman’s Beef Association Colin Woodall also advocates against Trump’s deal, saying it "sacrifices long-term stability for short-term messaging.”
Many customers have expressed concern over rising grocery prices. Beef and veal prices soared 9.4% in the last month as compared to last year. The U.S. cattle supply has reached a 75-year low, and domestic farmers are struggling with high fertilizer and diesel costs amid ongoing supply issues caused by the Iran war.
Chang and Siegel report that the White House official who confirmed the 25% discount also told ABC News “that the president will formally sign an executive order on the matter within the next two weeks.”
The White House official told ABC News the administration is working with domestic ranchers to expand production. Trump wrote in a social media post that “This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again.”
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