Trump Widens Beef Imports in Bid to Lower Prices
New York Times · LC · trust 48/100
Cattle ranchers have trimmed their herds in response to drought and low margins, helping push up the cost of another American staple food.
Listen · 4:29 min Share full article The Trump administration has been looking for ways to address rising prices ahead of the midterm elections. Credit... Justin Sullivan/Getty Images By Kevin Draper and Ana Swanson
The beef will be imported with “no out of quota tariff” and sold 25 percent below the current market price, which is $6.89 per pound, he said.
The president provided almost no details about how his plan would work. It seemed to surprise and anger ranchers. He did not say what countries this beef would come from, where it would be sold or how it would be sold for 25 percent off.
A White House official said the president would sign an executive order to remove the tariffs within the next two weeks. In exchange for the tariff relief, the president had secured a deal with foreign beef exporters to provide a 25 percent discount, he said.
The official did not specify which foreign exporters he was referring to, or which country the beef was from.
“This action, during a time of record high demand for beef, will help address the affordability of beef, after our nation’s cattle supply fell to its lowest level in 75 years under the Biden administration,” the Agriculture Department said.
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