đź“° Curated from Fox Business
📖 Read full article→
Trump’s foreign beef push to cut grocery costs sparks GOP revolt from ranching country - Fox Business
Business and EconomyBy Elaine Mallon8/22/20261 min read
President Donald Trump's tariff-free beef import plan faces GOP resistance as Republican lawmakers warn it undercuts ranchers rebuilding the cattle herd.
✨ Key Highlights
- President Trump announced on Truth Social that the U.S. will allow up to 300,000 metric tons of ground beef to enter tariff-free over the next 90 days, framing it as a way to lower consumer prices while giving ranchers time to rebuild the national herd.
- The policy comes amid voter concern over affordability and high grocery costs ahead of the upcoming midterm elections, where Trump and the GOP aim to retain their congressional majorities.
- Beef prices have climbed steadily since the pandemic, with the average per-pound price reaching $6.89 last month, according to the Federal Reserve Bank of St. Louis.
- Republican lawmakers from ranching states argue the plan is only a "quick fix" for consumers that will undermine producers' efforts to rebuild the herd, with Agriculture Secretary Brooke Rollins pointing to a historic cattle shortage driving prices higher.
- Sen. Mike Rounds, R-S.D., criticized the move on X, calling for a stable, "America-First" policy promoting domestic beef; South Dakota accounts for roughly 5% of the nation's beef cows, according to a USDA report.
- Rounds also emphasized the importance of country-of-origin labeling, arguing that current rules prevent consumers from distinguishing foreign beef, which would worsen conditions for domestic producers seeking a level playing field.
President Donald Trump’s effort to bring down grocery prices by increasing foreign beef imports is sparking resistance from Republicans in ranching states, who warn American producers could pay the p