Trump Plans Temporary Beef Import Tariff Cut to Lower Prices: Report
The plan would suspend a tariff quota and expand low-cost imports as U.S. beef prices hit record highs, officials said.
- President Donald Trump plans to sign two executive orders Monday to lower beef prices by increasing imports and supporting domestic cattle herd rebuilding, according to a White House official.
- The cattle herd has shrunk to a 75-year low, sending consumer prices to record highs and making beef a political flashpoint ahead of November midterms.
- According to the Wall Street Journal, the administration plans to temporarily reduce tariffs on beef imports while directing the Small Business Administration to increase loans for ranchers.
- Shares of Brazilian meatpacker Minerva jumped nearly 4.4% on the report, while Arkansas-based Tyson Foods Inc. fell as much as 4.7% as imports surge.
- The Justice Department continues investigating meatpackers for antitrust behavior while the country imports record beef amounts from Brazil, Australia, and Canada to address supply constraints.
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Trump Administration Moves to Lift Beef Import Tariffs as U.S. Meat Prices Continue Climbing
The Trump administration plans to suspend certain beef import tariffs and expand financial support for ranchers amid rising cattle shortages and record-high beef prices across ... The post Trump Administration Moves to Lift Beef Import Tariffs as U.S. Meat Prices Continue Climbing first appeared on [your]NEWS.
Trump signing executive orders to lower beef prices as cost of a steak breaks records
President Trump is signing a pair of executive orders aimed at lowering beef prices, a White House official told The Post – his latest effort to ease affordability as the price of a tasty steak skyrockets and inflation concerns loom ahead of this year's midterm elections.
(New York = Yonhap News) Correspondent Kim Yeon-sook = The U.S. Donald Trump administration, in an effort to stabilize beef prices that have soared to record highs, [applied] to imported beef...
Trump frantically backtracks on core policy as beef prices skyrocket to record highs
President Donald Trump's administration will reportedly suspend some tariffs on beef amid record-high prices.On Monday, The Wall Street Journal reported that the highest tariff "on all beef-exporting nations" would be temporarily dismantled.The Small Business Administration was also expected to incr...
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