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Trump waives ‘out-of-quota’ beef tariffs for 90 days to lower prices

From Al Jazeera · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • President Trump announced a deal to lower ground beef prices by allowing 300,000 tonnes of imports over 90 days without higher tariffs.
  • The imported beef will be sold at 25 percent below current market prices, according to Trump.
  • The move aims to ease the cost of living ahead of midterm elections, though US ranchers object.

President Donald Trump announced a deal to substantially lower ground beef prices for Americans by allowing up to 300,000 tonnes of imports over the next three months without paying higher tariffs. Trump posted on social media Friday that the imported beef will be sold at 25 percent below current market prices.

We have a commitment that this beef will be sold at 25 percent below current market prices. This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again.

— Donald TrumpPresident Trump announced the deal on his TruthSocial account.

"This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again," Trump wrote on his TruthSocial account. He did not specify which country or companies are involved in the agreement. A White House official told Al Jazeera that Trump will sign an executive order within two weeks, formalizing the deal where foreign beef exporters will provide a 25 percent discount to be passed to consumers.

In exchange for this tariff relief, President Trump has secured a deal with foreign beef exporters who will provide a 25 percent discount on beef exports to be passed along to American consumers.

— White House officialThe official provided details to Al Jazeera regarding the tariff relief agreement.

Trump blamed his predecessor, Joe Biden, for soaring beef prices and a reduced American beef herd. Data from the US Bureau of Labor and Statistics shows the price for a pound of ground beef rose from $5.55 when Trump took office to $6.89 in July, a 24 percent increase since he returned to the White House. The announcement comes ahead of pivotal midterm elections where rising prices are a key voter concern.

As everyone knows, under President Biden, beef prices soared at their fastest rate and the American beef herd fell to its smallest size in modern history.

— Donald TrumpTrump blamed his predecessor for rising beef prices and the decline in the American beef herd.

However, the move faces opposition from US ranchers. Senator Tim Sheehy, a Republican ally, criticized the announcement, stating it will harm cattle ranching families and American farm groups. He advised Trump against this course of action.

I’ve advised President Trump against this course of action.

— Tim SheehyUS Senator Tim Sheehy criticized Trump's announcement, stating it would harm cattle ranching families.
DistantNews Editorial

Originally published by Al Jazeera. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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