Tuesday, 02 January 2024 12:17 GMT

Trump Opens Door to More Beef Imports as Prices Squeeze Consumers


(MENAFN) President Donald Trump signed a proclamation Wednesday temporarily expanding the amount of lean beef trimmings that can enter the United States at lower, in-quota tariff rates, as his administration moves to cool beef prices amid a domestic supply crunch.

The measure takes effect September 1 and will remain active for 90 days, permitting up to 100,000 tons of lean beef trimmings to enter the country each month under the expanded quota, according to a fact sheet released by the White House.

Officials said the imported beef is meant to be blended with domestically produced beef in ground beef manufacturing, with the goal of boosting overall supply and driving down costs for American shoppers.

The White House said the plan includes protections for US ranchers. Importers will be encouraged to sell the beef at a 25% discount below prevailing import prices, and the expanded quota won't apply to countries with their own country-specific beef quotas — nor will it alter existing US commitments under free-trade agreements.

According to the administration, the temporary expansion could lift beef supplies by roughly 10% above current projections, and would primarily draw from the market for cull cows rather than competing with the fed-cattle market.

The move comes as domestic beef supplies remain strained. The Agriculture Department projects US beef production will fall about 4% below 2025 levels, the administration said.

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