Trump admits tariffs are a tax on America’s love for hamburgers and allows 300,000 metric tons of ground beef imports at ‘below current market prices’
“Tariffs are simply taxes on American consumers,” said economist Steve Hanke. Meanwhile, cattle groups are "disappointed" in the president's post.
U.S. President Donald Trump has temporarily lifted tariffs on beef imports for three months, allowing up to 300,000 metric tons of ground beef to enter the country without being subject to out-of-quota tariffs. In a Truth Social post, Trump stated that this deal would lower prices for Americans while giving the Great American Beef Herd a chance to grow again, with the beef being sold at 25% below current market prices.
Although the White House spokesperson did not disclose any specific companies or importers involved in this deal, they confirmed that the president will sign an executive order within two weeks, focusing solely on "lean beef trimmings for ground beef production." The move comes as ground beef prices approach $7 per pound, up 10% from July and 57% from five years ago.
Beef prices are high due to supply shortages that began under the Biden administration, and the American cattle herd size is at a multi-decade low, while domestic demand for beef remains high. Domestic cattle groups, such as the National Cattleman's Beef Association, oppose the White House's approach to flooding the market with subsidized foreign products, arguing that it does not help rebuild the American cattle herd.
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