Three rounds of beef imports aim to lower retail prices but the moves concern U.S. cattle producers.
Beef Import Plan Draws Backlash From U.S. Cattle Producers
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A presidential proclamation created three rounds of tariff-quota beef imports totaling 300,000 metric tons. The first 100,000-metric-ton tranche will start September 1, followed by additional rounds in October and November. The plan aims to reduce retail beef prices but has drawn criticism from U.S. cattle producers.
Transcript
A timeline for President Trump’s plan to reduce retail beef prices by importing ground beef and offering it at a discount has been released.
A Presidential proclamation signed Thursday created three tranches for the importation of sub-quota beef trimmings into the United States. The first tranche of 100,000 metric tons will open on September 1st, with successive tranches opening on October 1st and November 1st.
The rollout of the plan details has been muddled.
On Tuesday, Secretary of Agriculture Brooke Rollins denied being involved in planning the beef import project. Politico has reported that both USDA officials and beef industry groups were blindsided by President Trump’s social media post announcing discounted imported ground beef.
U.S. Cattlemen's Association President Justin Tupper said in a 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."
The effect on the retail price of ground beef will linger a few weeks past the November elections.
For Market to Market, I’m Peter Tubbs.
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