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Trump announces plan to reduce beef prices
AP News • • nation
Key Points:
- President Donald Trump announced a temporary allowance for increased beef imports into the U.S. without triggering higher tariffs, aiming to reduce beef prices ahead of the November midterms.
- The plan permits up to 300,000 metric tons of ground beef to be imported over 90 days, with exporters agreeing to sell at 25% below current market rates to lower consumer costs.
- The move faced immediate criticism from cattle ranchers, agricultural experts, and some Republican lawmakers who fear it will harm domestic producers and discourage herd expansion.
- Experts expressed skepticism about the deal's impact on prices, noting the import volume represents only about 3% of annual U.S. beef consumption and questioning the feasibility of redirecting that much beef quickly.
- Some industry leaders warned that increased imports could worsen the decline in U.S. cattle inventory, undermining long-term stability for short-term price relief.
