Trump eases tariffs on ground beef imports for 90 days
He did not say which countries would be exporting the beef, but that there was a commitment to sell it at 25 per cent below market prices
President Donald Trump announced on Friday that the United States would temporarily allow a greater volume of foreign beef imports, in his latest bid to lower costs for American consumers as midterm elections approach.
The US cattle herd has shrunk to its lowest level since the 1950s – in part due to drought and international competition – with the diminishing herd size pushing cattle prices higher.
“As we work to rebuild this herd and help our ranchers, for the next 90 days, the United States will allow up to 300,000 metric tonnes of product for ground beef to be imported with no out of quota tariff,” Trump wrote on his Truth Social platform.
The president did not say which countries would be exporting the beef, but added that there was a commitment to sell the beef at 25 per cent below market prices.
Steeper beef prices have become a symbol of high living costs in the world’s biggest economy, pressing the Trump administration to take steps to bring costs down.