By Ryan Hanrahan
Reuters’ Karl Plume and Susan Heavey reported that “President Donald Trump said on Friday he will temporarily ease beef tariffs to help lower prices, although U.S. cattle producers warned the move would hurt efforts to rebuild herds and economists said it would have little effect on prices.”
“Trump will sign an executive order within the next two weeks expanding by 300,000 metric tons the amount of ground beef that can enter the U.S. with lower import tariffs, to be in effect for 90 days, aiming to lower prices as U.S. consumers struggle with grocery bills, the White House said,” according to Plume and Heavey’s reporting. “Trump, in an earlier social media post, said he had ‘a commitment’ that the imported meat would be sold at 25% below current market prices under the plan. The president did not provide further details.”
“The National Cattlemen’s Beef Association, the largest lobbying group representing U.S. ranchers and cattle feeders, said Trump’s plan would hurt farmers and ranchers and could discourage expansion of the U.S. herd,” Plume and Heavey reported. “‘While America’s cattle producers share the goal of keeping groceries affordable for consumers, flooding the market with government-subsidized, below-market beef is not the way to rebuild the American cattle herd,’ the association’s CEO, Colin Woodall, said in a statement.”
“United States Cattlemen’s Association President Justin Tupper, said in a separate statement: ‘You don’t put America first by putting U.S. cattle producers last. This move will weaken our markets and gamble with food safety in the process,’” Plume and Heavey reported.
Source : illinois.edu